options expiry, page-12

Hi birdman333, I'd suggest we will have some movement with the fraccing op's, if nothing else this month.

As much as I can understand the frustration with the JV delay, I think it must be awfully close. My main fear is that we shareholders lose the lions share of a great asset for not much, but I'm placing my faith in SG to realise a good deal if not a great one.

Remember, the horizontals are going to cost upwards of $7m each so our deep pocketed partner is making quite a committment. They'll be pushing for the very best possible deal for their shareholders as I expect SG is (Or should be) doing for us.

So much depends on the success of the first JV program - 4-6 wells. If they strike oil in each hole then I imagine a similar deal or better will quickly follow to drill out the other 100+ locations. There's where some serious money will be made for shareholders.

DJ