Ann: AWE's Tuatara-1 drilling update , page-14

1. Purchase of Adelphi - remember that AWE through ARC already owned approximately 30 % of the stock before the takeover was announced.
2. Adelphi had cash so the purchase price of Adelphi was less for ARC (AWE)
3. Target statement reveals that fair price for Adelphi was 62 cents - AWE purchased for much less than this.
4.Other prospects of AWE seem promising
5. I believe that AWE has been sold off to form a new base and to make a new start on the stock.
6. Amount of cash that AWE generates will likely fund all programs (plus more) going forward.
7. There are many other positives for this stock ... I recommend people visit AWE's website and have a good look at some of the investor presentations
8. I recommend people do a little background research on Adelphi - start with the target statement and previous quarterlies ...
9. I like what I see ... I have been wrong before and picking the bottom is always difficult ... that is why I am saving more ammunition for more ...
10. Even if some of the exploration goes bad I think that has already been factored in to the share price.

Only my opinion.