ASX Today, page-5711

Enthusiasms a funny thing Spiny. Been churning this last buy over in my mind for a while after not being able to sort the smsf. Probably for the better as it would have given me access to a scary amount of cash, cash that I can ill afford to risk at this time of life.

What's the old saying, invest only that which U can afford to loose.

Well I figure PBs invested the best part of the last decade of his life chasing his ultimate shale adventure and has now put his paws on more of this prospective acreage. It's not so much his acreage acquisition but the TIME he has put into all this.

I find it difficult to believe, in fact one might say impossible, that a guy that has contributed in a major way to changing the face of the world energy dynamic by being one of the unconventional trail blazers would continue in his pursuit of this play if he didn't think it was better than a 50:50 bet.

I cast my mind back to one of his comments in the media where he said he believed the real risk was in getting this play to production due to its isolation NOT necessarily the engineering/technical risk.

I've got to say that most of my decisions on this investment have been heavily influenced by the presence of this guy in the back ground.

But what has also impressed me is DWs ability to sell this to the market via THOSE placements. He no doubt has a strong network amongst the investment world otherwise I can't c how he could have succeeded in raising the cash he has over the last couple of years.

One has to say tho I had my doubts after that second large placement at 1c. If I'd had the confidence I have now in this play/crew (and the cash at the time !!!) I'd have a damned site larger holding than I do now.

So, yes Spiny there is a bit more of a spring in d's step if only from the post buyer rush of taking another parcel of 88e.

Let's hope it's not I'll-founded as is the faith I have put in PB's acheivements and reputation. He has much to do yet and I get the feeling he's not one to kill such a challenge until such time he has exhausted all avenues to a solution. He also is involved in an industry that has been explosive in its technical/engineering developments in the last decade in sorting most issues these unconventional plays have had to overcome.

So forgive me if I've got a little SILLY this arvo. Thought I'd got over that RUSH of enthusiasm feeling. Seems that one perhaps never does.

d.

Logice will get U from A to B, imagination will take u everywhere.