acturtle -CUE, page-4

Hi B2,

BUY fell to absurdly cheap levels at 6 to 7 cents or so a few weeks ago then ran strongly to over 10 cents on a commercial gas flow from Woodada gas field. BUY has 25% of Woodada and HDR the rest. Woodada is not a large gas development but will provide cash flow now to BUY. Cash flow of any nature is a positive for trading oil specs as it means the likelihood of share placements to fund future drilling is reduced. This does not mean that a placement will not happen as that depends on the cash position versus cost of future drilling.

BUY have an interest in the near future Cliffhead/TP15 drilling. Success will be significant for them financially. It is a multiwell program and market interest will be high. I think BUY have all the aspects of a good trade. With two months or so to drilling. I would rate it a goodBUY time to accumulate now.

I dont hold. I am hoping for the price to drift a little lower. With drilling still two months away you dont need to buy on price strength, buy on price weakness. Pick your timing. However in spite of this at times it does not pay to wait - sometimes you have to pay what is on offer to get a position. Adversely every extra half cent you pay now is up to 20% of potential profit in two months time.

Yes I am a risk taker B2. Anyone talking oil specs is a risk taker.

acturtle