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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture
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To: Enigma who wrote (15563)4/4/2002 11:02:00 AM
From: MIRU  Read Replies (1) of 15703
 
The reason APC is dragging their feet is that if they drill a dry hole and then fail to establish legal entitlement to their ELH lease position, they will have committed a "Kishi-type trespass" and thereby become liable for destroying the speculative value of the leases. In that case the juniors may come out better with a dry hole now than whatever apparently faint hope they have for commercial success later.
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