I do not believe they have the resources to start the drilling program on their own so a more deep pocketed partner must be found so drilling can start on Zarat North before September of this year. This extension is good news for the time being but nine months will come and go very rapidly. Luke warm buy pending further news.
I agree. Calling the paper was a very positive and credible signal.
Also, while I am invested in SOQ based on what they already have, it was nice to see in the most recent presentation that "2D and 3D analysis: 5 large prospects on Joint Oil Block; Sonde estimated potential 1.4 billion bbl OOIP + 5 TCF OGIP". Large upside potential. I am sure this got the attention of potential partners as well.
This offsets some disappoint about Drumheller results.
Sure hope it is the former. Have been waffling about doubling up on my shares so now am even more puzzled. This could be a bonanza for Sonde if they find a strong working partner but a complete disaster if they cannot and also cannot sell Zarat.