talked to phil, page-9

Hi Papertiger,

If it wasn't for the billion plus shares on issue, I would probably be a holder (albeit small) in CIG because Im a fan of Perseus (PRU).

However the capital structure keeps me away.

If however ERH had 1 billion shares on issue with an equivalent market cap...and i had to choose between the two, I would still choose ERH by a significant margin...the exploration potential of their prospects is much greater than Caspians imho...and I think we will see that verified over next couple months.

Also the problems CIG have had with their previous wells at Mailisu does not inspire confidence in their announcement today...ie the same problems may be encountered.

However as I said above, their PRU investment makes them worth considering at least.

Cdchi1