Tareq,If you reread the announcement, the workovers haven't...

Tareq,

If you reread the announcement, the workovers haven't begun.


They state that they will being the well workovers when they have permission to use the water disposal well.

As i said, the company has confused people here by first saying back in November that the well workover had begun and then in two later announcements they stated that it hadn't but would if the Water Disposal well permit was granted.

You will need to read Nov 2, Dec 3 and yesterdays announcement in order to have clarity, seeing as the company haven't released a cleansing statement.
I'm not sure that the right hand knows what the left is doing at the moment with MAE.
Its possible that we have the same old problem - Jeff saying one thing and jumping the gun and Peter writing another thing that is inconsistent.

And about La Jolla - i am concerned that they need more money than they already have potentially due to needing to settle legal issues. Why else would they need more than they raised only a couple of months back? It only makes sense if they now have realised substantially greater costs.
Otherwise, it doesn't make sense....? Big dilutions happening with the price at 2 cents.
Maybe its worth 1.5 now tops, more like aroun 1cv as the market will finally have had enough and could now do a full calculation on debt and well potential and realise that they have nothing in the way of wells and that their debt is way beyond being easy to handle. The company is not setting itself up for a good 2011 by any means - unless a miracle is happening that they have not released to the market.


L