Ann: Acquisition Update and Drilling Program , page-26

Hi motors, I am here to be convinced.

Totally agree that the high amount of debt means that this stock is highly leveraged to a successful drilling program or a good asset purchase. I guess I liken the stock to buying an option.

Good to see the gas price climbing higher also -hopefully there continues to be a harsh winter in NY for you guys (not so great for new yorkers though).

The bit I don't understand is your comment about the cash backing? I understand IMP used all it's cash for the acquisition and therefore had to take out a 6.5m equity bridge. The big query for me is how they pay that back, but please correct me if I am wrong.

Thanks