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Message: TOGA TN NEWS FEBRUARY

Re: TOGA TN NEWS FEBRUARY

posted on Jul 01, 2008 06:48PM

Kyle, Bill was asked about this after the AGM. He said that this is for JB#3, but they couldn't do a deal with the landowner for the deeper mineral rights, so they went shallow.

Oct 12th NR - encountered the Rome formation at 7,850'.

Oct 24th - "To date Montello and its partners have expended a total of $5.1 million on the Well."

Nov 14th - "has now been drilled to a total depth of 9,580 feet"

One month to drill 1,730', and spend over $4 million. Must have been drilling horizontal legs to check out the Rome formation. Maybe that's why the next well, JB#3 was licenced for the Rome. Guess the formation looked better that way.

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