Ann: Brief Update , page-53

Personally dont think a CR is on the cards S/T. Frank is too clever. I believe that we will hold off until a buyer is found for CF. If this sale does not occur in 2012 i believe that a CR will only be undertaken as the last resort and AFTER go ahead of the IPO. Why? Because the SP will race toward 10c at the least meaning little dilution in the event of a CR. Drilling maybe postponed. This is all speculation ofcourse dyor