Ann: Pilot Plant Update, page-97

Good point about the sand proppants being the vast majority of the market. This is something I picked up looking through some old company presentations. It's kind of unrealistic for the company (LWP) to be talking about the proppant market being so-many-billions-of-dollars, when they are only aiming for a small niche in that market. Also to talk about Carbo Ceramics as a competitor, they are a lot more diversified and sophisticated in the products and services they supply, and they also sell sand and resin coated proppant. Good luck all, and I'm staying in, but there is a long road ahead. we're not going to hit a billion market cap with a few JV deals and a successful pilot plant.