Ann: December 2009 Quarterly Report , page-13

Azzumha...Pem was the one who pulled out in the deal..which they may jet regret...CBH and Toho agreed to the deal...so as far as I can see CBH may still be willing as the option was 3 CBH shares for 1 Pem share...I still think that overall it was fair...but PEM WANTED more..so its stale mate..at present...Maybe the Chinese might change their tune..as the acreage CBH got may jet contain a lot of minerals...After all the Endavour mine is making a lot of $$$ and as I post CBH are drilling around that mine as a lot more minerals are being discovered there..I wish PEM would have seen that as the 2 of them would have made a good mix..It may still happen but as I said it may not be 3 to 1...but maybe 2 to 1...as CBH progresses in finding more minerals