COP, page-56

Had a bit of a squizz around the net this morning and every O&G company is cutting costs , big and small, its about survival for some of them now. Years of high oil prices have made them fat and lazy spending had gotten out of control and it is coming home to roost for a few. I personally think we are very luck to have a company that could raise 40 million and be oversubscribed with oil where it is, it actually gives me confidence. Fully funded for the 3 well programme gives the market confidence, a little bounce in oil would help but if the drill bit hits what we have been led to believe is there then FAR's is a bargain ATM. GLA DB