fiale project - some links, page-38

I've been keeping an eye on the cousins too, and hold a smaller amount of HRL than EHR. The SP action over there is pretty impressive, while we're lagging just at the moment.

Fair point CJ, regarding the different degrees of anvancement in the projects between EHR and HRL. I believe they only plan to start their first exploratory drilling in Chile late this year so Copahue is 12-24 months more advanced IMO. You do get the feeling that their partner ain't messing around and has the skills, field teams and experience in-house to kick the project along pretty quickly if they want to though. With 87.5% ownership to EHR and debt financing (combined with the IDB direct investment) as oppsed to HRL's 30% ownership and free-carry to financing by the JV partner, they're hard to separate to be honest, though the broker reports are handy. I reckon both companies are beautifully positioned

Thanks for all the Djibouti research, people. It's really interesting to hopefully be able to see this little known country carving a path to enrgy sustainability with somewhat of an insider's view. I'm here to make money as much as the next person but I'm pleased to be involved with projects that pass the triple bottom line test of environmental, social and financial benefits.

Time for me to sit tight and have some patience..