Cliff Head Rehabilitation, page-22

The economics of CH have changed dramatically since it did the deal with AWE .
They anticipate a cash flow of 18.7 million from CH over the next year .
However that was using Sept qr oil price and exchange rate .
Since then POO up significantly and exchange rate has dropped .
Both move the cash flow up significantly from their conservative estimate .

The next quarter should show greatly improved revenue .
Drilling at Xanadu is probably nearly a year away .
May not need a CR to fund their share .
Financially they appear to be the strongest hand in the joint venture .

The directors/management have a lot of skin in the game .They will avoid dilutive CR if at all possible .

GLTAH