ASX Today, page-11078

Pangzi2, without wanting to draw out this topic further and just to be clear for my own thought process.

You'd be happy for the company to "fail fast" at Icewine2v, the company go broke and investors lose their money?

Never mind that previous CR's have allowed the acreage position to be quadrupled since the"fail fast" statement was made. Because of this Conventional oil as been identified from legacy well logs, now being further detailed by state of the art 3D.

And they have picked up Yukon Gold for $1mill with potentially 120 mill barrels in the ground and 3D currently being processed.

You'd rather give up the above, have the company run out of money and close the doors if Icewine2v does not flow?

It should be remembered the "fail fast" mantra was with regards the geological conditions at icewine1#. After drilling that well the evidence suggested further investigation was required as they believe they are in the"sweet spot" and have something that will not fail.

Yes, it has taken longer than a lot wish it had, yes a lot of people have their money tied up in the red, yes it would be nice if money fell from the sky and not from our pockets.

What Dave has done was raise $17 mill at an opportune time to cover the company for known and unknown events should Icewine2v not flow. Should the well not flow, the share price will probably be smashed, with 6 bill shares on issue to CR at say, 1.5c, would see existing holders diluted out of the game or a consolidation and holders see their portfolio given at least a 15% haircut.

Some will see this as prudent risk management, some will view it as a drawing out of the process and lining his and others pockets.

I feel sometimes it's better not to rip off the bandage and be exposed to further pain but give it time to develop into special.

Just my thoughts and I fully understand and see your angle too.

Cheers happy hump day.