Ann: Q2/Q3 Drilling and Completion Operations Update, page-28

I held Xanadu for an event, unfortunately they were like beggars to the table and had to take what was offered, which to my mind was less than desirable to shareholders, hence my exit shortly after the announcement.

Calima is in a better position, they don’t have to beg for a deal, they are debt free, they are making cash, and I hold for a Montney deal which will come, the only question is when.

In the meantime the stronger they can make the Blackspur assets the better, I would also not be against the $20m or so being spent on the pipeline and Tommy Lakes upgrades/refurb, drill a few more wells too if necessary and get it rolling, I think it was either 10 or 20 wells can be drilled off the original pad at around $5m-$6m a hit.

Anyway, each to their own, I’m in for an event and won’t be giving mine away until it’s done, one way or another.