If I remember rightly ML said on twitter that a vertical WB will cost $1.7 million. Costs are not a problem for the company if they are getting partners in. Timeframes are the problem (for investors) as some seem to think news on WB will see a sp rise. Our first well is going to be a water disposable well and to gather information. No added production so I see no added value. Our second well will be a vertical which if successful may be converted into a horizontal well down the line. Take all these things into account and you'll find that if successful any new production from WB will take 6+ months minimum.
CT is where the money lies and we need some more decent sized WI's to maintain production levels and any chance of a sp rise. Forget WB as its not proven yet and given the luck of this company not something you would put soley your money on. Same goes for HP, still a punt.
If WB and HP come in with good results it may be a different story but until then CT is where the company's growth is at.
But we will not fund the 8M ourself, say 40% so $3.2M needed. Texas bank loan we just doubled production so should see more exposure.
RNS states we will operate. Matt Lofgran, Chief Executive Officer of Nostra Terra, said:
"We're very excited about our recent acquisition of the White Buffalo Prospect where we own a 100% working interest. The acquisition fits all the criteria we were looking for, including; being in an existing prolific basin, in a conventional (oil-prone) reservoir where the application of modern technologies can have a large impact, being the operator and owning a substantial working interest. We are keen to expand our presence further in the basin and this Placing better positions us for that while also allowing us to grow other areas of our portfolio."
Who will be operator in WB? Horizontal wells cost on average $8m Please explain funding, Can we still be operater if we have 20% WI Texas bank loan out of reach -production related. placing -are we prepared for 10bn shares? To fund horizontal well.
WB will be a game changer, the key is charity on plans and timelines which I believe we will get soon, this will wake the market up. Remember plenty of cash in bank, doubled production so major positives on revenue. Wake wakey
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