RE: Federal Oil & Gas Lease Sale | BLM Utah State Office June 24, 202627 Jun 2026 10:55
100% & rightly so.
Before any JV partner will sign on the line, CH will need to achieve the following imo
Actual flowing 1st O&Gas from the 3 x wells. Sign off could still take 3-4 months in reality. Then, the potential JV partners need to see those 3 x wells flowing nice and steady ( and accident free for some months, re pressure & Exact daily volumes etc. ). Why would you dive into a large investment with a JV until these points have been satified?. It will happen, the $6m question is as always with CH, WHEN???.. No hard or even soft timelines are ever given.
I find it very hard to fathom, why any MGT team cant atleast say, "we fully expect the 3 x wells to be signed off for the start of full prodution by the end of September, at which point we can conclude Heads of terms sign off with a JV partner". After which ZPHR & our JV partner will clearly outline the full development of the entire Paradox basin, starting with an initial driling of 10 wells in the cane creek reservoir, which shows very close similarity top the 36-2 well. ..... Frankly, this is a simple profesional business statement to make , which shows respect for all. Sadly, we havent had such clarify in 6 years.
I will never ever understand WHY?. Just sad really.
ZPHR will get there, but when is the question?. They must have tlaked these JV talks round the biggest tabel in the world, 5000 times in the last 8 months & still are!!. GLA.