Ed says.. " Ask & you shall receive. They sucked wad this quarter because they could not raise enough funds to close out their year-end '98 drilling fund."
Yes, it was a disappointing annual report. We are still awaiting the numbers on the last quarter, which is likely not to be pretty, and hopefully represents a low point. The good news was the increased amount of production. However, as a wise investor of old said to me once upon a time.. "The devil is in the details.." here are some new annual details filed with the SEC, with more to come for the last quarter, not filed yet:
sec.yahoo.com
"For the year ended December 31, 1998, turnkey drilling revenues
decreased $1,848,442, to $3,789,995 in 1998 from $5,638,437 in 1997,
or 32.8% for the year."
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