I hope that the "new drilling manager" announcement is not intended as a substitute for Ru7 failing to come online. I hope that I am wrong and the announcement comes later today, but this is NOT the news I was hoping for this morning.
They are planning on running a third rig, at WMRU and Sword, so it just makes sense they need a new supervisor.
This man has been working with them already, but as a consultant, if I am reading the announcement correctly. So the company will put him on payroll and pay employment taxes.
He's been on the scene, we just didn't know about it. So there will really by no changes in the companies operations. It's just that they've been able to "capture" another professional who will be getting some stock I suppose. Good news, really.
I think he must be too busy spamming the MILL mailing list with other news from other companies they must represent. I don't know about you, but today not only did I receive an MZ email about the new VP MILL hired but I also received some #$%$ email from them about Westbridge Energy, a company I've never heard of. So apparently MZ is mining the MILL mailing list for spamming about their other clients. I find that offensive.
RU-7 is online, and there are two successful gas wells. That is a little bit more than no success. Also they are now drilling the sidetrack this week so we may here something about RU-2 in a little while also. There have been delays and this guy may be able to solve that problem. If so, then good but there has definitely been success here.
Remember, with this market there is no spot market and that will slow down the gas sales as they need a customer to sell to rather than going to sell on the spot market.