Per Zack's report today, the Koko lease has been extended for two years. The drilling and surface work were suffiicent to extend lease, no need for commercial gas production.
This is great news, because it takes risk of lease expiration off table.
Also, Schlumberger is handling the stimulation/fracturing for DEJ on this first Koko well.
Sentiment: Strong Buy
great gains ahead folks.
This is strong news. Yes, still here and wishing I would have loaded up more
recently at .17
sorry but as a long
these tidbits don't excite me
the management staff experienced so such an achievement should be par for the course
I want to know what they have in the ground, when they plan on taking it out and how fast will they be selling it
Looking forward to more details on this development from IR. Is Zacks telling us that the first Koko well doesn't need to produce anything by year end now that the BLM has already extended the lease for two years?
Perhaps, but it seems to require "diligent drilling effort" -- not sure they can now sit back. Even if they could, I would hope management moves forward on at least 1 well.