Ann: Activity Update , page-68

Good Q CH,

If you look at how this stock has traded, you will see a post drill sell off and just as everyone was looking to re-enter, by coincidence at a strong support level of around 5.3 cents from memory, and expecting some reports of natural flow from the zones described as naturally fractured, they went to this section for fraccing. It's a cash burn, low permeable section, proabaly best suited to long lateral drilling and multi stage fraccing. You may remember Dexter pointing to the activities of Bill Baxter Corp in a similar section in PB investigating the Gothic Shale play (Probably what RdB is referring to with 1 million pounds of proponent, but I haven't looked into it).
Even with their work, they are yet to determine if their field could be economically developed, but they have a lazy $450 million to throw around, and the in house expertise to try.

It is obvious that if they are to persist with the current formation, they need to re-frac. If not move on to the upper sections. Perhaps the full sweet of logs dampened any enthusiams to do that. Who knows with these guys.

Why am I following it? Anyone who has followed a stock for a long time will know when to buy it and when to sell it with a great deal of confidence......it just ain't now.