Board approves new well site evaluation process.

The well site evaluation process described here was unanimously approved by the board on October 27.  President Sol Chooljian said he initially had concerns but complimented the Ad Hoc Committee on its work to develop the process and said he now fully supports it.  “I think it will really expedite the process,” he said, and that it will “improve shareholder communications bilaterally.”

In presenting the report orally, committee member Alma Quezada emphasized that the main purposes of the new process are to identify permitting hurdles and to select the best well site.  Chooljian emphasized that the shareholder participation will be advisory only and that the board will get regular reports on progress.  Three shareholders spoke to support the committee’s report, and nobody opposed it.

The need for the Ad Hoc Committee’s work was highlighted in the discussion of the FY2023 budget when General Manager Robert Eranio said he has no way to project capital project expenses now for Well #7 or Well #8.  Budgeting for finalist project sites is part of the new process.

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