ps of 1, page-9

MrSteve,

I'm a long time holder of BUR and have been largely very happy with how they're going.

So as not to mislead...

The PE ratio is the price times the net earnings, not the net revenue. BUR still has no net earnings, but from the latest drills, appears it will be cash positive in the next quarterly.

Agree that its cheap, and once we're rid of the overhang from the convertibles, and hopefully an improving of market conditions, we should be away.

I've been buying the options mostly-long expiry- but think the heads are good value right now too.

I'd like to see some more clarity from the company on their direction in the next 3-6 months. We've had hints that they're looking at oil well re-entry projects, but I wonder with the success of Marlin if they may be rethinking that. Gas prices are high- I'd like to see another Marlin well before anything else. I'm surprised we haven't heard something more definitive yet- its been two odd weeks since they were finished at Marlin. Surely somethings going on at BUR!?