Doug,
Sorry it took so long to respond. When the drilling of Pan Canadian next door to LMX's tract was going on I followed its progress by reading the weekly information that companies drilling in the area have to provide on a weekly basis to the Canada-Newfoundland Offshore Petroleum Board (www.cnobp.nfnet.com/). The company was drilling down to a depth of 3200 meters. However, after they finished 2400 m there was a notation in the results area stating that information was withheld at the driller's request. Then later there were statements that the driller was logging results. Then drilling was terminated. Unlike some of the other drillers who reported dry holes when drilling was terminated, they stopped drilling without stating that. Someone at LMX told me that he heard that they had a saltwater-filled hole, but I have another possible scenario. Even though it may cost extra money to do this, why can't they try to be faking out their neighboring leaseholders into selling them their leases on the cheap, maybe through a third party who pretends to have no association with them? I don't know and probably am wrong on this, but it's not totally implausible.
Now to answer your original question, which I studiously avoided to give you somewhat of an update, you can contact Colin Campbell, LMX's president, at (604)-801-5441. I haven't spoken with him in 6-8 weeks, so let us know if you hear anything good. TIA
Regards,
Harold |
