Bullish Chart, page-41

Look, I'm not getting into a great debate on this, but I did say depending on how the next few months pan out.

Things that can impact on future drilling is what reserves figure arrives and subsequent share price, timing of getting pipeline done and income starting from the pilot program, up front payments form GSA's, Option conversion income, any Govt. grants that may be on offer etc. etc. A scenario might end up that the next 6 wells are done 3 at a time … with some financing and perhaps, who knows, what amounts to a (then) small cap. raise from shareholders... ???

By the time the next phase of drilling is brought into action the share price might be 2 or 3 or 4 times its current level. Speculating on financing the wells as things are NOW seems to me pretty pointless, in fact.

Kip