what to expect in a j/v?, page-10

Hi Dj

There is one posibility that could come out of the JV talks that crossed my mind today,

That is our Irion land, its separate from the Reagan and
at this stage we havnt drilled there.

Looking at maps it may not include the cline interval.

Its likely any talks would concentrate on the Reagan land as this is being proved up.

This could leave us with a JV on our Reagan land and enable us to start and develop the Irion acreage on our own with the possibility to JV at a later date when proved up.

Cheers Whisky