Ann: Cambay-77H - Flowback continues, page-16

Yes, the option holders {That's me now} have plenty of reason to be worried in terms of 78H getting off the
ground and delivering before SEP15. The jury is still out on 77H {although current recovery rates are ordinary
to say the least}. Let's hope that we can get to a production test SOON to at least determine whether another
attempt {78H} is likely. I still think we have about 5 million or so in the bank {even with the cost over-runs} so
if 77H proves problematic but still encouraging we shouldn't have to raise too much to expedite a bigger, smarter
78H. Time {and results} are of the essence now.

GLTAH