only a matter of time, page-20

OGG,

Please don't confuse the hypesters with facts - it'll only get you on their bad boy list.

From AZZ's presentation they have two drill pads up and ready. IMO those two drills will eat up the cash on the balance sheet.

After that they have no more funds on the balance sheet.

So that is why I stated: AZZ is overhyped, over committed, and under financed.

That have that $20 million loan facility on their books to be used by issuing new shares and IMO that may be a way of getting funds or flog a bunch of land for which they have no hopes of getting getting enough funds to do the job and maintain their leases.

I really, rally doubt that looking at what they have an offer for will get them anything like Pioneer rec'd.

Pioneer rec'd only about 20% of that price in cold hard cash. The rest was for future drilling. It also included 8 producing wells which had much more production than AZZ, some wells to be hooked up, and 3000 mi of seismic.

IMO $12,000 an acre is real pipe dream, $6,000 an acre unrealistic, $3000 an acre more than its worth, and half of that $1500 about right.