cutlass sale and cash at hand., page-17

Hi Nathan,

Unless I am wrong I see it that at the end of the quarter GGP had only $1.2m cash in the bank at that time and this was after receiving the Cutlass and the $3.2m from the entitlement done in March.

This to my way of thinking was blown in the drilling of #5 and its short lateral saga as no more cash for its full length.

Ever since the start of the quarter management have been living on an oily rag and sales from the wells producing would not have been enough to fund the #6. Work has been ongoing in the #s 1,2,3 and 4 for various reasons and burning what cash was available, workovers and repairs.

Question still remains about the #6 funding . $600k alone is spent just on admin, $200k a month.