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Gold/Mining/Energy : American International Petroleum Corp
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To: DRRISK who wrote (4833)11/7/1997 8:20:00 PM
From: Laserbones  Read Replies (1) of 11888
 
Actually, DRRISK, I'm pretty much in agreement with you. I can direct you to a half dozen posts I made some weeks ago where I also said that this co needs leverage in the form of new and irrefutable data. Aipn is just now in the acquisition stage. After the accumulation of new siesmics, the data needs to be carefully reviewed and a list of strong candidate drilling sites made. As Qdog has mentioned many times, the rig will need to be moved into place and all preparations finalized before the bit touches the ground. I would guess that at least 2 more months will pass before that list of "first" sites is made. How about another 1-2 mos to get the rig onsite followed by setup and actual drilling. If everything goes perfectly I'd expect the drill to be in the ground in 3 months. Any problems . . . who knows how long?

For any JV of any substance to be made prior to the drilling the Wavetech data would have to be awfully convincing. I bet that acquired data looks great lots of times but the drilling comes up with very little or nothing.

So minimum of three months for any JV based on this scenario unless Wavetech comes up with extremely convincing survey results. Isn't this what qdog has been saying all along? Looks like things are playing out closely to his breakdown of the situation.

Greg
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