Ann: Quarterly Activities Report , page-2

with poo being as low as it has over the past qtr, the fall in revenue is no surprise, as they stated it was their intention to downsize 'til poo rises.

let's remember that there a few major US oilers looking 4 acquisitions/takeovers atm. hence, this is the most ineresting bit in the report;

"The Company has received a number of approaches with respect to its Californian business
and Salinas is actively engaging third parties who show a genuine interest in acquiring
assets held by Salinas where a transaction will add value to Salinas’ shareholders. At least
one expression of interest is being considered by the Board at this time."