Do you think Brad would be interested in one of these? http://www.alibaba.com/premium/drilling_rigs.html?ptsid=1012001000170951&qstr=used%20oil%20drilling%20rigs%20for%20sale&mt=p&bmt=bp&kwid=38647135542&adid=3511820285&ptscode=0210202010010001&uptime=20131104
Smidsy, I remember bringing the subject of Brad aquiring a rig a few weeks back. Ive been doing a little research recently into rig availabilty - yes that has involved a few phone calls pretending to be an oil man. From what I have found it is not easy getting a rig for short term contracts. This has lead me to believe that the next aquisition may involve some sort of long term rig contract or possibly even a permanent one. If we were to get a rig onsite before the winter we could drill a certain area, then when the freeze hits we can then move the rig to somewehere else on the acreage as it's alot easier to move the heavy equipment in the winter. Just to put it into perspective - Range resources OWN 6 rigs (600bopd) Lenigas oil OWN 2 rigs - whay can't EDGE own a rig?? $17m funding easily raised, now I wonder what Brad could have used to guarantee the loan, ok the acreage and prospective output seems obvious but what about a shiny new rig Hmmmm atb Magnum
Taking over another company would possibly give Brad extra equipment but in addition he would get experienced drilling crew and he may get additional land in the deal. The more I think about it the more I like it.
See RNS 29th. October last year
My tablet has a small keyboard and my Specsaver appointment is overdue. I really must try harder. Eye Hill is the district where we are currently drilling.
Without checking the RNS's I think that Brad told us we has a possible 100 drilling sites available in one of the regions. He is probaboy goibg to drill those before he looks for more land. Just my thoughts at the moment.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.