Cadlao is still up in the air, but supposedly no longer being...

Cadlao is still up in the air, but supposedly no longer being negotiated by arbitration, now direct.

Settlement should be circa 6 mil, when the bucks come thru, who knows, could be soon, or not, now RAI have backed down from legal proceedings, whats the hurry for Blade to cough up ?

When Cadlao gets drilled? late '13, early '14 .

Bonita is still terminated, even tho' RAI denies it, expect more legal argie bargie.

Kakapo, mmmm, NZO chatter is early '14, cost to RAI is 10 mil, no way theese guys will have 10 mil by years end. NZO will want to see the bucks first, can't blame them.

South block A should be the first starter, RAI hold 38%, its a good project.

Re-entered a smaller postion this week, cautiously I might add.

For me, these guys still have a lot of explaining to do... until they clear the air on Cadlao AND Bonita, they still suck as far as I'm concerned.

oh yeah, they will chew thru cash for fun, last years 9c CR didn't last 3 quarters. So expect at least more CRs for both Cadlao and Kakapo, circa ~20 mil (10 mil each).

WARNING : Proceed with caution.