"The High Plains Program Area of Mutual Interest ("AMI") covers a contiguous area of 66 square miles (42,000 acres). High Plains is found in an area where subsurface mapping, 3D seismic, vertical and horizontal drilling and completion technologies have already been applied but only with varying degrees of success. We will seek to increase that success rate through the application a new "proof of concept" with B&B.
The first step is to re-enter a previously drilled well within the next 60 days which, analysis indicates, could be productive. If the re-entry is successful, this will initiate exploration over a larger area. The total initial exposure to NTOG for the re-entry, completion and subsequent reprocessing of 35,000 acres of 3D seismic data to is estimated to be US$75,000. The partnership will then apply the "proof of concept" in order to create multiple prospects within the AMI, each of which could comprise up to 2,500 acres"
You are talking short term "getting burned" there though aren't you? The company is now past break even, they are getting great opportunities for the future..and I like their low risk, high reward strategy in the mid U.S. I've only bought in here recently, mainly with the intention to trade it, but I knew when I was buying that I'd be happy to hold it. Good luck all holders.
The fundamentals on this share are great....great prospects but ...after another terrible day any good rns may just kill this share......may see new lows very soon. I want to buy back in but I have lost too much here already and will only risk another buy at below 0.39. I want this share to do well but you only have to look at the sp behaviour, charts, rns etc to know you will get burnt. And then the bastard MM's
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