Hi Rojames I can see how being down 50% would increase the...

Hi Rojames I can see how being down 50% would increase the frustrations. As you are aware I still dont own any EXE shares and look at it a little differently because of that. I do know a few that purchased a lot at 28cents and are frustrated as well.

I have read the Edison reports (as you probably have) and they did mention that EXE were approaching this exploration from a very conservative drill program, which I took to mean that they were prepared to explore the outer reaches early on and not just try and hit the bullseye so to speak. (Edison report found this a refreshing positive within the industry) Dont quote me on that, but that was pretty much my understanding.

CNOOC will have had a lot of input in to this strategy as well, for what ever their reasoning and I guess they (CNOOC) are not as interested in what the small investor thinks about that, as they are following their own investment program and have been prepared to step up and cover the future funding requirements. I think the EXE team are conservative players but are stuck with the big funders wishes. There was a little evidence in some of their comments and Edison's comments regarding investor/market sentiment when referring to raising future capital.

My problem will be when news does come out in that I will not have the time to build a position.

There will be news rolling out over the wet season relating to the laboratory results/findings along with the company's view, which should position investors well for next year.

For me EXE has entered a period where the small investor has given up and moved on, and that is exactly the time to start moving in, but I can see a downside drift still occurring for a bit longer.

I still see this as a very good risk/speculative opportunity -but a bit bottom draw-ish at the moment.