$2,000,000, page-11

Hi all,

It is highly unusual for the founder and Technical director to resign a) before the 'signature' well is drilled and b) during key Farm-out negotiations in Gabon. And lets face it, he was on an OK wicket at PVD and now passing up on 2.5m options (worth about $500k at present). It would have to be an exceptional offer/opportunity for him to step away at this time.

And frankly, I don't see it. He'd need a base of $5-600k which just isn't out there at present. But we'll just have to wait an see.

It may also be a clash of strategic outlook or the Gabon F/O with DN...??

I've been on these type of boards before and it is not a positive for your technical director to walk out during negotiations....unless there has been a disruptive divergence of ideas at the director level.

Maybe a deal soon???