Hi Red Baron,nice to hear from you. I became fatalistic about Rex ages ago on the grounds of its certainty of success and by its equal certainty of producing the goods for Marion,assisted by the building of Ruby (again the same elements of certainty and success,this time with the North California gas taker Pacific Gas ensuring its success by joining the pipeline partnership with a contribution of $500US to the project). Im starting to regret raising the subject of Rex (and Ruby) because the first 2 things I discover is that Rex ,scheduled for completion in Mid-09, is now scheduled to be completed in late-09. Further, there is an article in Oil and Gas Investor dated 12.8.08 headed "Rex to shut down for 3 weeks in September" which then goes on to say " The shutdown has caused(note-past tense)a spike in the price differential or the discount that the Rockies producers receive compared with producers in other producing regions". I think I am going to stop there and revert to the stance I adopted over 3 months ago- while I continue to view Mae as an oddity in regards to its reporting standards I also regards it as a most unusual situation regarding production,or no production. Im quite happy to leave it up to the Board to do what they will and the involvement of GS plus the share issue with Pattersons approval (and buy recommendation) is good enough for me. We will get the gas prices that we get -they are not a Huge issue now,and we cant do anything about them !
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