Hey tarecq, Apologises if my post came off negative/aggressive...

Hey tarecq,

Apologises if my post came off negative/aggressive in any way, it wasn't my intention.

I don't think that a 2.3c tp is out of the question especially if we see oil spike or recover. Like you mentioned, we are starting to make money now and there are plenty more drills scheduled for the rest of the year, slowly adding to our bottom line. I've bought options because I wanted leverage, which looking back now is going to either make me a lot of money or teach me a little lesson... We have plenty of time and and the management are definitely on the right track at the moment.

The oil market is tough at the moment but I see it more (and I'm sure management do to) as an opportunity to drill for cheaper or acquire assets cheaply. It will take time for us to see what management are working on behind the scenes in this area.

One thing to be mindful of though is that most small oil explorers and producers that have cash are currently trading below their cash backing. This will change quickly once people start rushing back in looking for a deal.

@ tareqc, I need to be a Patterson's client to see the report so I'm assuming that you are? Are you able to give us a link or upload the PDF report, I'm keen to see their analysis of the operations and expected timeframe. They wouldn't own such a large holding if they didn't believe in receiving a massive payoff. I remember calling them up in an attempt to buy a large holding off of them directly instead of on market and they weren't keen to reduce their exposure. It's a good sign, so I bought more.