Ann: Highway 71 Completion Update , page-25

Tax loss churn underway.

Got to say the company gave plenty of hope on this one and then delivered bugger all.

But that is the nature of the business, thousands of wells get drilled every year and only a fraction of them become producers. Tex's batting average is not too bad.

I don't know why there are a bunch of you guys giving Lautrec a hard time for reminding us that the company has productive wells and this is not the end of the company.

You can only go on what they tell you and until this morning there was no way of knowing conclusively if the second frac would happen or not. In defense of LR, they had indicated it may not go ahead and so it was always a gamble to hold.

Yet simply because some of you thought the lack of news spelt trouble and have been proved right you feel justified carrying on like pre school kids

The share price will recover once the churn is over.