viper,
WRT #5, just for clarity, they actually COULD keep their well data confidential until the 1st anniversary of the rig release. That is to say, the spudding of the 2nd well has nothing to do with the tight hole status on the first well. [EXCEPT, of course, it confirms that they have something in the first well which justifies their risking another ~$5MM.]
Having said that, at the FST AGM yesterday, I UNDERSTOOD Squarek to say that the tight hole status would likely be lifted WITHIN 12 weeks (The maximum time it will take to acquire crown lands of interest in the immediate area). If my understanding was correct, that would mean tight hole status lifted on or before September 10, 1998!!!
MY INTERPRETATION ONLY of what I considered to be another noteworthy comment by Squarek at the AGM was basically that shareholders should interpret the tight hole status as a very positive event, and should not be anxious to dispose of their holdings. [Sorry that I can not give you an exact quote so that you can make your own interpretation.]
Later,
grayhairs |
