26 May 2010drilling progress report● Neutral
On May 24, 2010 the company announced that Lance Nelson, hired February 8, 2010, is Field Manager for the Montana unit, overseeing a reactivation and infield drilling program supported by Schlumberger Data and Consulting Services. Reactivating and recompleting eight wells and a production battery is expected to finish around August 2010. The Tribal Max 1-2817 vertical well is targeted to spud this summer to about 6,000 feet, with a horizontal Tribal Max 2-2818 Bakken well to follow if the shows are successful. This continues the Montana development plan outlined in the Knightwall sale; these are plans, not results, and the filing flags financing as a risk.