Ann: Quarterly Activities & Cashflow Report, page-6

Yes I was hoping for a better Qtr given the price of oil for the Qtr.

Like you say $579K in sales and cost to produce $546K = RRRrrrrrr Houston we have a problem.

Throw in $428K for wages and overheads = Disaster

Yes a very disappointing Qtly and currently a company that is only going rapidly backwards as far as finances are concerned.

It's all there in front of us and its a shocker to put it politely.

DM this is going to take one hell of a turnaround from you my friend. There is absolutely no operating margins?

Please drill away and acquire as much as possible but at the end of the day if we go to 900K in sales for Qtr and it ends up costing us $850K in production for Qtr what is the point of being in Canada?????Operating expenses, Corporate overheads will only increase the way I see it under the current business model which currently appears to be significantly flawed. Figures tell us how it is.

Right now unfortunately all I can see is the bright whites of my Accountants eyes staring at me asking me WTF am I doing.

Please DM turn this Titanic around. And mate we have already hit the Iceberg.