Ann: Operations Update, page-162

In the corporate world, when you're close to having a partner you don't say you are close to having a partner. If you're so close you've signed a CA, clearly you'd be breaching that agreement if you said anything about a likely partnership. You say it when you're nowhere near to having a partner to try and get any sort of interest. And also to keep shareholders relatively placid at times like these.

I'm bummed out by the news of the drilling program, because technically I was intrigued. Commercially, I was not convinced at all. But I really wanted to see if their science worked. What really upsets me is that so many of the posters on here had a vested interest in the technical success of the wells, because as I was duly informed by many of these folks, the company would sell out and look for the next big thing. So the commerciality of the leases only mattered in the negotiations over a sale price.

Damn. Sorry folks. But guess what... those conventional leases are still there, and any find there will get a better price than unconventionals.

All The Best.
JR.