Ann: Investor Update , page-10

Ah, I didn't notice that.

It will add interest to the holiday reading.

I've been looking at some data from the Hedonia well and it seems that they ran 3 open hole tests and 2 successful cased hole tests in that well, with the best result being poor oil shows. Also, the well seemed to have many indications of the presence of oil in shales, so this augers well for the prospectivity of the Goldywer at this location I think.

I don't want to put myself as someone who knows anything about petroleum geology because I do not.

It does seem to me though that the Goldwyer might prove to be something more special than I had thought it would be after reading the results of NSE's Nicolay well. I expect we'll need to wait to some time after drilling is complete before the analysis of the cores becomes available, but it just might be worth the wait.

I've grown more positive about this well since doing a little research today.

Phil