now producing oil and gas, page-54

Hap, your points were equally valid as are R15's and the other posters. We are in need of further clarification to be able to fully understand the potential here.

The overall market sentiment is poor and with the trouble companies are having raising funds unless things change I believe things will not improve quickly for those companies without cash or production. Asset sales and Farmouts dilute future earnings just as much as CR's so imo those companies currently overvalued to cash and production have higher risk and will recover slower.

The market wants drilling but I believe the smart companies are conserving their money, managing costs and waiting for things to pick up before development. Those with money will pick up the pieces from those that have overextended themselves.

Its just a wacky theory and only an opinion.
Cheers & Bw