Petromin/Kalinoe are GONE = Kumui Petroleum

[sageo]

So why not get the rigs going while we wait -----seems like a lot of time being wasted

oil, I've been concerned about that and raised the question, myself.  I understand they are progressing with related work but before beginning further actual drilling want to consult and agree with the new partner(s) as well as PRE on the details of how to proceed with further development and exploration drilling, perhaps with additional assets (equipment as well as cash that is expected to be much more plentiful).  I guess we could consider it another component of what Phil meant when he said "we're going to know a lot more over the next 30 to 60 days".  I must admit I'm tired of waiting for all of it, but I think they see it as the most important decisions the Company will make for years to come and are determined to get it right with all the bidders and the government and do it cost effectively.  They have been working on Rig 2 to get it ready for the next well;  but personally, I'm impressed with how comfortable they are with the government support to be holding off temporarily on further drilling.

Getit- Liked your"important decisions for years to come",and agree. However,as Oilmd believes,we can drill and negotiate at the same time.The first task of an exploration company is to "explore"(drilling).We can always put in a provision(in all that lawyering),that if we exceed our expectations in Elk3or any other prospect,that changes can be made.After all,we do have bright folks doing all this"back and forth stuff" .Thanks for everone's input.