over an hour with chris, page-11

1 RC at present, and I believe, he said they were putting on another, plus a diamond rig and the air cores working.

As for Corporate activity, he said there was a regular stream of M & A vultures, oops, meant advisers, coming through. But they don't not know if they are serious, or even have a mandate from another company. Seems to him mostly just fishing expeditions. He did say they had considered some acquisitions but it sounded as if nothing was really worth their time. He much prefers organic growth. He gave some good reasons of why he's generally not in favor of friendly mergers; that they usually don't deliver a premium to shareholders and expose the company to unwanted predatory advances at the same time.

But in general, my impression is nothing is happening on the western corporate front, or foreseen in the future.