buyback, page-4

possible that the raising other than being proactively driven by the insto's for their own reasons... was to square away the bank so as to nail the recent aquisitions.. now that the cash from the aquisitions and the exisitng tenements to say nothing of the cash saved on a slower drill program continues to grow..
the best way to utilise this is a buyback.

If there was another aquisition in the offing that made sense and that amu could get rigs for then I'm sure they'd do it.

Also the cap and collar would now be pulling in cash from the bank allowing for a gas price well below $8 with the collar at $8.

buyback doesn't kick in for 2 weeks but drilling must be at or near depth at Lavaca. Drillling report wed am as usual ie tommorrow.

Final point if the gas price resumes anything like mean reversion on the gas to oil ratio scale then gas may well hit $12 again. In which case amu allowing for even moderate success on the bit is worth two bucks not one.

my oipinion only.