Email from Keith, after speaking with him this afternoon. Folks, ya just gotta love a guy who sincerely cares about his company and shareholders, and keeps a steady, open line of communication, WITHOUT the intention of it facilitating the selling of new shares!
Lowman,
Yes purchasing this equipment was a bit of a departure from what we had planned. Since we have been in SE Kansas that area has gone into a drilling boom, alot of it is the majors drilling Coal Bed Methane wells a few miles south of us. They are monopolizing the available service availability. They are putting rigs under long term exclusive contract and in effect squeezing out the smaller operators or making them sit on a wait list at the mercy of the service companies. We were on one, that is one reason the new well has not yet been completed, last week for the 3rd time a work over rig stood us up and could not give us a time. Basically this situation seriously PO'ed Craig and myself, are we going to allow a service company to yank us around? No we decided enough was enough we will become their competition and take their clients, we will take their crews, if they want to play by these rules!
We knew Pulstar had a rig coming available, so we bought the rig, hired away a very seasoned crew... now the competitor does not have a crew and we do! Plus this rig is going to be one of the more modern and larger capacity in the SE Kansas area, much faster and stronger than the competitions, so there will not be a lack of demand for it we will take away clients they do not have time for. But more importantly we felt in order to keep our schedules and work on our leases as we said and have been trying to do. When the rig is not working in house for us we will contract it out.
We will be able to speed up the work that needs to be done, no more equipment availabity issues. But more importantly we threw down the guantlet to those trying to play games with us, try to freeze us out, try to monopolize equipment, the message is, we really dont need them because we will become their competition rather than be at their conveniance.
Gotta love the free market huh?
Keith A.
to make a million bucks over night" 
