Ann: Investor Webinar, page-526

i agree, i think the webinar was laced with some subtle excitement about what they're finding but haven't reported on yet.

Let's not get ahead of ourselves though. There's heaps of oil there, clearly it's a good reservoir with good fracturing and whatever else makes geo people excited.

but it's not all going to happen overnight. it seems like it takes time to drill, and there might be slight setbacks along the way (e.g. something breaks, delays in getting certain supplies to site, etc).

it seems like most people are way more excited about the next well anyway (i.e. Amistad was always a lower pressure, lower interest thing. It's turning out to be good anyway, sounds like fractures are good, and it already flowed oil to surface just from that top section of the top unit 1A, so it bodes well for the rest of the units that previously had no real data because they never expected to encounter anything much there). Based on the numbers from the McDaniels report, the lower units that the next well (Alameda-3?) will be aiming for will be the real money makers.

Don't let the tactical make you lose sight of the strategic - this is big, and it'll take a while.

I will not sell a single share below $1.