crco, page-2

botcap, if that appalling appeal had been dealt with the sp of CRC would be substantially higher: so would the CRCO.

The knock from left field by the Greenie council disrupted plans and the sp.

I find it difficult to believe that you picked this current situation. Remember 2 months ago the sp was ~19cents and starting to wake.

CRC is still a highly speculative play and so are the options. My guess is that CRC will ann some brilliant drill results and/or revise the reserves to say ~400k.

If that doesn't get the steam under the sp interest we're stuffed. But I believe it will and the company's intention is to get as close as a 100% conversion as possible.

In that light the options may become value just before the 31st next month.

may...

as for buying them now? They have a higher risk than 6 months ago but for your $550 punt it's a reasonable proposition.

As for writing them off....we'll see on the 30th Jan '12