I have heard two things and wanted to find out if anyone else had heard anything about this:
1) Crimson has joined forces with Cotango E&P and the PRC oil company Sino-Petro,
2) Cotango and Crimson are already having a disagreement about the development of the Zoraster-Robinson survey in Madisonville, TX., purportedly over the reported reserves under this area which Cotango wants to go after right now.
Anyone else hear anything about/like this in the air?
Don't know anything about Sino-Petro or the development of the Zoraster-Robinson Survey; but, I have been following Contango for a little over a year when they got interested in leasing around our area North of Flatonia. Then in the 4th quarter of last year, Contango either merged or bought Crimson and I believe that was final in December of 2013. Following that, it seems that Contango pretty much turned over their operations to the Crimson brass. Since Contango was pretty well fixed for bucks and almost totally shallow offshore stuff, they were wanting to get involved in the land based possibilities that Crimson was already familiar with. About 5 months ago, Crimson joined forces with Enervest to produce the lands North West of Flatonia and they now have two wells permitted. One is already drilled and preparing for production at 7500 foot (probably chalk) and another that is being drilled as we speak at 9200 feet (maybe Buda). Only time will tell about these wells.