COMExceedingly interesting take on the circumstance. I think you...

COM

Exceedingly interesting take on the circumstance. I think you may very well have one of the more possible (if not probable) reasoning out there to date. I was originally of the opinion that there was a major possibly involved, but in reading more posts, and having greater time to think in peace (without the decision skewing pressures of after market), I do believe there is a greater likelihood that BG will in fact walk, and that we will more vigorously pursue UCG technology.

In a meeting not so long ago (one which I was in attendance), many things were discussed, and JH made a point of showing his admiration and intrigue at the Carbon Energy (CNX) project and their CSIRO technology for UCG. This could purely be coincidence, but maybe that was a precursor, as is the constant mention of RER and their "yet to be properly tested and evaluated" technology.

I for one would be fine with perusing UCG, and signing off from BG who have played hard ball for too long. We have Phase Two drilling to create and maintain investor interest, and with a little luck (and good seismic intel) we may yet yield a Helium and/or oil resource to see us through until UCG can be developed with this new money. It may be far fetched, however if we strike Helium sooner rather than later (say even in the first drill), we may yet salvage CTPOA and get them in the money. This would add a further $30m to our cash balance (as previously stated) and as was said in an earlier post, we also have 20% of our profits back! This softens the blow of dilution at least to some extent.

Time will tell how it unfolds, but COM it helps to have your clear thinking, if for nothing else than a well thought out perspective and a voice of reason! Perhaps I am still clouded slightly by wishful thinking, however I hope I am proven a pragmatist.

I will be with you in waiting in great anticipation for Friday's announcement. I do also believe more than ever it will be a good one.

RB