Thanks Poyndexter for being the first to write an indepth post...

Thanks Poyndexter for being the first to write an indepth post for quite some time.

I am still a believer. The resource is huge and the gas is right in the middle of Europe. I think the convertibles are the main reason this stock is not trading at 40-50 cents right now on potential alone. Somewhat ironic that the notes are the biggest hurdle given what a coup it was that they raised those notes at $1.20 when the price was ~70 cents (from memory). I think they have no choice than to power ahead with some reserve certification and upgrading of Gazonor. This means, they will have to bite the bullet and refinance in the short-term. I personally would support a SPP if they made it clear that is would be put into fast tracking resource development.

Also, glad to have Moulin still in charge given his expertise and his fund's incentive NOT to have the company (or Gazonor) acquired through default on convertibles.

I am overweight in EPG already. But I think it is worth a speculative punt for newcomers based on potential alone. Its sad to see many other gas companies going up recently, but EPG coming off slightly. If the potential resource of EPG was in Australia or the US, access to finance would not be an issue, even with the convertibles overhang.