Please to meet you, myoldman66

If 66 is your age, i'm not far from you.

I do not pretend to know the oil&gas business, but I do know that starting and managing company is not that easy as it looks like from outside.

I'm do not intend to put intention in the head of Mister Cawker nor do I want to put word in his mouth or yours.

I  only want to express my opinion as I am also a share holder.

I see it like a hockey game, there is a lot of people in the arena, some for, some against the local guys playing.

If you look at the crowd, every one seems to have the answer on how the game should be played. The hic is that they are not on the ice...

As I mentioned, they do need money.

Maybe, and I said MAYBE, they prefer to spend the scarce money they have on the big shot instead of spending it on Tex Flora.

Remember, Austin have 50% of it and, they, also, have something to say.

What will be their course of action ?

There are 250ft from JB#1 and 1.25 mile from the blowout.

Also to take into consideration is what did they have found on the way down to the Rome formation..

The CEO is not alone, there is a lot of people around him to assess the finding.

So, with the money they have(or have not), what is the best course can we take.

Try to seat in his position, it's not only money but also his reputation.

A captain of the ship feels always alone...

Giving advices, opinions and so on is one thing, taking decision is another.

That's what I mean by the hockey game... and the game is played in Tennessee.

I found this on SEDAR:

In 2005, the Company paid $1,172,955 for the acquisition of various oil and gas leases

covering lands and equipment located in Tennessee. During 2006, the Company spent an

additional $610,169 primarily on developing the wells on the Brooks property and on the

Tex Flora property. Under an agreement with Austin, Austin earns a 50% participating

interest in each well and associated contiguous land package by reimbursing the

Company for 100 per cent of all costs involved in the acquisition, drilling, completion,

stimulation, and equipping to production stage of each well. During the year, the

Company billed and recovered from Austin $842,432.

Due to very low production, limited availability of historic production data, no

independent evaluation of the Tennessee properties could be obtained. Consequently,

management wrote down its investment in its wells in Tennessee by $935,692.

During the first quarter of 2007, the Company signed a mineral lease on a 253-acre

property in Morgan County. This mineral lease is adjacent to the Tex Flora well. The

Company has completed a drilling program and has submitted the plan and an AFE to

Austin for a well to be drilled on this lease to Austin. The budget calls for drilling and

completion costs of US$3 million. The drilling location selected is adjacent to a well

drilled in 2002, which blew out and resulted in a massive oil spill and fire.

In 2005, the Company paid $1,172,955 for the acquisition of various oil and gas leases

covering lands and equipment located in Tennessee. During 2006, the Company spent an

additional $610,169 primarily on developing the wells on the Brooks property and on the

Tex Flora property. Under an agreement with Austin, Austin earns a 50% participating

interest in each well and associated contiguous land package by reimbursing the

Company for 100 per cent of all costs involved in the acquisition, drilling, completion,

stimulation, and equipping to production stage of each well. During the year, the

Company billed and recovered from Austin $842,432.

Due to very low production, limited availability of historic production data, no

independent evaluation of the Tennessee properties could be obtained. Consequently,

management wrote down its investment in its wells in Tennessee by $935,692.

During the first quarter of 2007, the Company signed a mineral lease on a 253-acre

property in Morgan County. This mineral lease is adjacent to the Tex Flora well. The

Company has completed a drilling program and has submitted the plan and an AFE to

Austin for a well to be drilled on this lease to Austin. The budget calls for drilling and

completion costs of US$3 million. The drilling location selected is adjacent to a well

drilled in 2002, which blew out and resulted in a massive oil spill and fire.

http://www.sedar.com/GetFile.do?lang=EN&docClass=7&issuerNo=00007698&fileName=/csfsprod/data75/filings/01029835/00000001/p%3A%5Cdwnlds%5CMontelloAFSDec11%5CMontelloMDADec11.pdf

I do like discussion as I know I do not possess the THRUTH

Bestt regards

ECCE