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Gold/Mining/Energy : American International Petroleum Corp

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To: Laserbones who wrote (6734)	1/19/1998 9:42:00 AM
From: qdog	Read Replies (1) of 11888

Wrong. That rig is a daily cost, not turnkey. They will rig up and start drilling in less than 5 days. IF the company fails to supply the rig, they pay. If the rig breaks down due to their fault the company gets a discount. It is a very fanscinting operation in the logistic side and management there of. You are constantly prepping for tubulars, drilling fluids, people in and out, logging, food, accomodations. Quite impressive. Yes there are problems that do occur, but it is a 24 hr operation, 7 day a week, 365 1/4 day a year ops. Just like the war of words months ago, this is an operation that takes time to decide on and determine. They stayed originally that end of 1st Q was the target. I feel it will be more of the 2nd Q around the beginning or middle. They still have 1500 km of siesmic data to chew on to go along with that 500 km of existing Soviet data, that their website says they have.

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