pre open -great result, page-20

Hotty,

Compare apples with apples my friend.

ABU just raised $15m at 5.5cps, they have $30m cash and an asset TAM wants (old pirate - see MOU), it is an "emerging producer".

TAM has probably $20m debt .. bleeding cash to the tune of $5-10m p/quarter at Coyote - Sure its a producer, but one that "loses money" so what!!!! TAM has No development capital and just sold in my opinion their best asset and leverage into the regional ground package.

Only a matter of time before TAM knocks on the door again for cash.... My guess is within 3 months (ie: after next quarterly).. Take your 260m and add whatever you think they are going to raise - and my tip (it wont be "at market" 78cps).

And they will still be bleeding at coyote.. without old pirate it is just a nonsense..

Ill take any luck you throw me, much appreciated..