Question-and-Answer Session
Operator
The first question comes from the line of Philip Dodge from Stanford.
Philip Dodge – Stanford Group Company
Morning everybody. Thanks for the comments.
Let me ask you with little more money available this year from what money that originally been expected, what properties in your portfolio would be the priorities to take a look at earlier?
B.F. Weatherly
Sure, Phil.
The kept priorities is kind of coming off of opposing trends of CIECO and then just a Board meeting and my comments earlier, of course we’re just stressing the fact that we really last year has been pursuing a strategy of focusing liquidity. And now with the CIECO transaction closed and looking at cash flow for the rest of the year, we certainly have the cash flow and I think the liquidity to pursue some yet new activities. And in coming out of our Board meeting though last week, quite frankly we’re in the process of prioritizing. As we mentioned before, we do have a nice inventory of drilling prospects. To try to pursue the question is to priorities, the priority really is focusing on some opportunities where we could hopefully see production later this year. We have some drilling prospects that we certainly like to pursue but realistically by the time we drill them and if successful, have them online, we’re looking at a longer time period.
So we are looking at some opportunities, perhaps where we could pursue some drilling activities that would have the infrastructure where successful we could hopefully have them online certainly about the fourth quarter or going into the first quarter of next year. We also, at least we’re taking a look at, perhaps some producing properties, acquisitions on some of the selective basis where we see that might fit into our current strategy. And so, that’s the reason we haven’t specified at this point. Certainly we will be over the next several months but we haven’t actually identified some of the projects we want to pursue right now. But certainly the point is we’ve got significant cash flow here in the remaining half of this year and to work with. So the focus is on drilling opportunities or perhaps producing property opportunities that could enhance the production in the near term.
Philip Dodge – Stanford Group Company
Maybe dropping the gun for easier measurements, can you accelerate on West Cameron 295 or the High Island fields that you mentioned?
- To read the full transcript on Seeking Alpha, click here »
