Ann: Production Update , page-21

Finally received email replies after all these months, and it was very positive from Eric.

We discussed a couple of things, like the problematic nature of capital raisings. And we both agree that SEA is now oversold, and very undervalued.

So what are management going to do about it? They are working as hard as they can to remedy the situation, but it would seem that Mr Market has taken a disliking to SEA.

We discussed the welfare of loyal long term holders.

I continue to buy on the way down, and my old trader mentors would probably call this foolish, however, except for some director selling (did they know something?), nothing substantial has changed for SEA in regard to development and production.

Halliburton and the JV on Niobrara in the second half of the year might just make or break this company and maybe some people are taking out insurance now.

Halliburton however, are bringing in 600 staff to the Niobrara and are all gung ho on the project, which is good.

The only negative here (besides the plummeting share price) is a good point brought up by Luap77, when we get below 60 cents there may be a couple of acquirers running the ruler over us, perhaps prepared to make a 70 cent bid, totally unacceptable.

My suggestion, and it is only my humble opinion, if you can possibly hold on to your shares then do so, though unfortunately, the degree of sell-off means that it is going to be a long way back from here.

I am in shock at the strength of this continued sell off, it is consistent and powerful and lengthy, and I can not explain it in terms of the company's performance, which means there is only one reason, this has been a pre-meditated manipulation by wealthy and powerful companies and businessmen, and as such is almost worthy of an ASIC investigation (as if they would do anything!).

Something has been going on here that does not conform to the normal behaviour of trading patterns, even in a down market, something dodgy has been happening, and somewhere, somebody knows about it but is keeping quiet.

"Something is rotten in the state of Denmark" (Shakespeare, Hamlet, Act 4 Scene 1)

Gw