going to have to get a shift on, page-33

Pearlexporter, I wouldn't attribute much value to those 'rumours'. Where would RRL/RRS get the money from for an increase percentage? Cash is pretty tight as it is.

If it was to be dilution to fund a larger percentage I'm not sure I'd be happy with that. Dilution would mean less potential profit per share from RRL/RRS's other projects.

We got 10% for $4.25m, so we can reasonably assume that taking another 10-20% is going to cost at least $4.25-$8.5m. With only $9m in the bank and all of that having to be used on Georgia/Texas drills a fairly hefty dilution would be inevitable.

I'm not saying it's a bad project or that having a greater stake in Trinidad wouldn't pay off, but the dilution would be frightening, expecially if we have to raise cash for Georgia later in the year.

Wouldn't mind maybe another 10% of the project, but anymore is too much IMO.