Re: Something to think about
in response to
by
posted on
Jun 03, 2009 11:36AM
Exploration and production of oil and natural gas.
I found the amount paid by each of the parties for drilling the 3 wells up to January 31, 2009. It appears in Mike Coolen's court Affadavit of March 4th, 2009. The only thing lacking is the cost of the testing on the third well.
http://relieffromdebt.ca/documents/c...
Item 21: The total cost of the project to drill, complete and test the three Block 5(c) exploration wells. as of the January 31, 2009 joint interest billing date, has been $311.4 million USD. As of January 31. 2009 the third of the three exploration wells has been drilled and cased. and the flow testing of the third well is expected to be completed in March, 2009.
Item 22: Of the $311.4 million costs of the Block 5(c) project, as of January 31st, the participating parties have paid as follows:
a) BGI $125.2 million USD,
b) CSEI $66.6 million USD
c) CNE $69.3 million USD
Total $261.1 million USD, unpaid $50.3 million USD.
Item 23: The total amounts paid to date by the three participants are $261.1 million USD. There is a shortfall of $50.3 million USD due and owing as of January 31, 2009. Of the shortfall, the participants share is as follows:
CSEI $4 million USD
CNE $34.7 million USD
BGI $11.6 million USD
Best Wishes; Scott