target upgrade, page-27

I know the PIIGS/US are out of our control AJAX but these macro factors would have more of an influence on TRH than a capital raising at IRN. Every capital raising is different and I wonder if you witnessed TVN double after a 2 cent capital raising? IRN is a $300 million plus company whilst TVN had an Enterprise Value very similar to TRH ($23 million @ $0.60). That is assuming TVN at its high yesterday and TRH at it's low and including Tranche 2 completed.

What influence would Stone Energy's three 2010/2011 oil/gas wells have on TRH's exploration target? Increase or Decrease? A question to ask management maybe?

http://www.mineweb.com/mineweb/view/mineweb/en/page674?oid=131036&sn=Detail&pid=102055

Have a read of the above Link and check out Stone Energy's Spuds and drill hole locations below. (Right click image and save to Irfanview)





Download the images into Free version of IrfanView and it is easier to read.