Ann: Change in substantial holding, page-9

Hap R15 & all, my girls have banned the Thin Lizzy from the car so am now listening to One Direction, they sing as well so - help!. Louise was a shame but a SWD well will come in handy in the future to manage costs. Upcoming qtrly should reinforce the fundamentals so mid term I think things are good and oil price shouldn't have big effect as gas income now higher with WK and Abita producing.

I was bored the other night and had a look at some old wells. La Posada (we had 4.75% WI) which we sold is a standout - has produced 1.2mmbls Oil and 62 Bcf Gas in 30 mths since Jan 2012 with Gross income around $374m. The sale was a positive as it protected against CR's and cost mgt has also helped conserve cash which imo should continue to grow slowly and open new opportunities when/if things pick up.

I think it is a good thing to be watching many stocks & bw with everything, plenty places to make money but probably more places to loose it as well if not careful atm - but that's just my opinion
Cheers & enjoy the Weekend