Important news - Lippincott#17 + ESTIS#1 projects
We have spoken with Sam this morning US time, he confirmed that Dorado will come out to the area today 3-10-22 and pick up oil from both the ESTIS#1 project, as well as approx. 20 barrels on Lippincott, there is more oil in the tanks, but the state takes the first 20 barrels as tax payments for us to achieve the status of stripper wells on Lippincot#17. After this, we only have to pay 3.2% tax on all oil sold in the future.
Sam will then coordinate the collection until the end of October of all the oil we have in the tanks at that time and after that things will run every month.
We have waited a long time for this and now it is finally happening, and we apologize as much as project manager Pete Lippincott for the delayed progress on this project.