25,740' WINFIELD RANCH JV PARTNERS Message Board

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Gold/Mining/Energy : 25,740' WINFIELD RANCH JV PARTNERS

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To: RSkarsten who wrote (917)	3/10/1999 6:04:00 PM
From: Harry	Read Replies (1) of 1326

Here is what I have.......... Progress.. None..... What actually happened. The relationship between WTR and Baytech went very sour.WTR was very prepared to pay for the continuation of the fishing of the pipe even if it came out one cm a day. Baytech went for the big money and lost. There is no settlement talks going on right now and nor have there been any for some time. It will be settled in court. The JV were made aware of the full situation on this last session. In an effort to save this play they are going to test the two formations,if they indicate a pay, then the JV may have something. This will all be to strengthen the case against WTR. In my opinion, what we have is a situation where the operator has looked at their own interest, and disregarded the JV, you can ask any JV how much of a say they have had in the claim against WTR. If you want credability, the JV should try and remove pipe , remove broken pipe, test and prove zone, and then sue WTR for every penny they have. This will not happen as the powers that be are quite happy to see the JV in pennies.

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