Ann: Acquisition Update and Drilling Program , page-35

Field EBITDA is different from Operational EBITDA which is different from reported EBITDA. There is a substancial (as in millions) difference between these reported figures for IMP - which is why it's important to distinguish them.

You've made 35% because you bought on a low point for the stock. There are many people who have held this stock for years and management has not delivered suitable shareholder returns.

The stock is clearly undervalued. However given current liquidity levels and management not giving dividends or trying to promote the stock - that doesn't look like it's going to change.

Lionels point is that if cash runs low and breaches loan covenants (a number of companies have gone under breaching loan covenenants), there will be a share placement which will bring down the price.

Your enthusiasm is welcome, however don't let it blind you.

Has anyone tried calling management to find out whats going on?

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