23 June 2008resource reserve update● NeutralMajor
On June 10, 2008 Razor signed a letter of intent with Striker Petroleum LLC to take part as a working-interest partner in drilling the Idaho Falls Prospect in Eastern Idaho. It expects a 15% interest (option to go to 20%), with its share of costs put at $675K for a dry hole and $825K more for completion; specifics were still under discussion and the resource figures are estimates.