Ann: Drilling Update , page-12

maybe I am just too much of a pessimist at times, but I do see the value, just not in the same way that others do. We have been higher, but remember that was before we suffered a double dillution with the SPP and the KOGAS purchase. All value adding, but when you dillute your capital base..the unavoidable net result is that its harder to reach the same value per share..unless you are acquiring new assets or doing something different that creates value.

I am only moderately bullish on Blue Energy for 2010 :)
Cheers,

SF