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Givot Olam Oil Exploration LP (1993) Message Board

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  • arizzzona333 arizzzona333 Jan 19, 2012 11:34 PM Flag

    Any News or anything to look forward too?

    Two wells NOT REALISTIC???
    That viewpoint is ludicrous, to say the least!
    A "new" company has emerged...This is not the "Givot" of 20 or even 2 years ago because...
    How about the FACT they will now have a flowing cash infusion (785+ bpd at $95/barrel = approx. est. gross of $2.4 Million per month or $28.8 Million/year... do the math) from selling Meged 5's oil/gas that will support the new drilling costs for... Actually THREE (3) wells this year, as shown by Givot's request for these permits to do so.
    HOWEVER... the new (bad) news recently posted will postpone drilling but is NOT due to Givot's actions:

    8 January 12 12:07, Globes' correspondent.
    "Givot request to drill 3 new Meged wells rejected" - The regional planning and building board rejected Givot's requests to drill the Meged 6, 7, and 8 exploratory wells.
    ...the request was rejected because of a retroactive change in the planning procedures for oil wells," stated the company.

    Unfortunately, this dimwitted govern"mental" game-play change will delay the THREE (3) new wells (Meged 6, 7, and 8) probably by several months of silly redtape paperwork, even though Givot had prior approval in place.
    SO PLEASE POST LOGICAL AND REALISTIC INFORMATION WE CAN DISCUSS INTELLIGENTLY INSTEAD OF DRIBBLE.
    THANKS.

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