Ann: Roundhouse Prospect Initial Test Reaches Tot, page-34

re: Ann: Roundhouse Prospect Initial Test Rea... Hi Gerkin,

Yes that matches my plan, I've doubled my holdings in the last few weeks, not quite at my target yet, but getting close.

Agree that surely the selling must be close to being done an the downside is limited, if Bonner is a failure then I'll pickup more cheaper for the Olmos and Rodessa. Interesting that Cliff added to acreage around Bonner, so he must be confident.

My only concern is admin costs at $500k a quarter are quite high, I'd like to see some results quick smart to justify them. Otherwise our cash reserves will evaporate quickly.

We will sit patiently and wait for Bonner. Interesting also is sabine o&g (nfrenergy) who are quite active in east texas noticeably the cotton valley formation, a bit east of Navarro county, however they are getting spectacular results up to 2000 bbls a day from their horizontal completions.

http://www.nfrenergy.com/Operations.aspx