there is still value here - just treat the heads as if they are options - on a large large potential find. I do agree though - there are other less risky plays without the sovereign issues and still have the billion barrel potential that are closer to drilling and also have big brother farmins. RRS was the only spec I left in my portfolio over the past year as mkts turned down - it didn't work but now I am starting to get back into the speccies as I smell we are near the bottom of the bear market. The rescue package for Fannie Mae & Freddie Mac will be the turning point - it should come in the next week or so.
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