15 rigs in service at a very conservative 50% utilization rate,...

15 rigs in service at a very conservative 50% utilization rate, I believe this is very ambitious. Realistically, this is a number of years away.

At the end of the first quarter of 2010/11, coretrack had $1.807m in the bank. It costs 9.3m million to build the gt3000, auxiliary equipment and consumables.

With 1 rig running at 50%, it makes a profit of 14.6m, if it is in use 70%, its 20.4 million.

If the share price goes up as it should and all options are paid, it will add another 2.5 million to cash flow.

If Coretrack have a great year, in the next 12 months, I believe they could have 4 rigs running in 2 years, needing a period of 6-9 months to build the drills.

Just something to keep in mind.