I actually wrote to Eddy Bockovic just before he left and...

I actually wrote to Eddy Bockovic just before he left and discussed the whole devlopment thing and he agreed at that time so it seems that development of the Growler structure is important. Other things to note is the farmins coming up. This reduces cash burn but keeps an interest. They have also said that they won't look for a new CEO until the end of the 1st quarter. WHY? This is when the results of the EPT are due plus will commence drilling of Warhawk to hopefully prove the fields are all joined. This will allow two things, raising of capital via placement but at a much higher price therefore reducing further dilution. Reduce the staff costs with no CEO alot.

Saving the cash may also make room for an acquisition elsewhere. Eddie Smith doesn't often lose money.