Ann: Quarterly Activities and Cashflow Report, page-14

stumpy the only figure the company has ever used is a dry hole drill estimate to say it has gone 30-40% over a cost they have never publicly disclosed is poor form I think we can all agree if the well is going to cost 250% over the dry hole estimate (the only estimate) provided to market …..

That $14m cost you now quote is very similar to my own figures - ironic we are now in agreement when many on here stated it would land nowhere near that much. It’s clear paying the E2 wells costs will eat up the E2 cash flows for a number of quarters to come. They cannot afford for the well to show early signs of decline otherwise they will need to kick out those states drills ….

lack of forward activity is required to repair the shape of the balance sheet I think we can all agree on that …,