Ann: Lyons Point Well - Drilling Update 11 , page-5

re: Ann: KOG: Lyons Point Well - Drilling Upd... This is my take.

Agreeing to extend the drilling is positive. They think there is a real chance they have intersected the hydrocarbons but it intersected at a late stage of the original drilling estimates. If it was bone dry they probably would have walked away.

The big seller today. I suspect it was a underwriter by the equal size of the option and share parcel put on the market to sell. I figure they would have had a preferred information status as an underwriter in the past. However the way the underwriters have behaved I would say they were given the cold shoulder with the the info and got the xhits on and sold or just misinterpreted what the extended drill might have meant. My guess is they are now in the cold and panicked.

This is not a make or brake for GGE not by any stretch, I saw it as as important factor in shareholder confidence.

I have stated before, I used to deal with underwriters all the time. The reason.... they have the money not necessarily brains.

Flux