Directors certainly disappointed today for not dipping into...

Directors certainly disappointed today for not dipping into their pockets....you will recall one director lost over 1mill in the opes scandal ....he purchased them close to $1.

From what I understand they would have to dipped into some considerable leverage to convert options......this was never intended as they clearly had hoped for a sale prior to conversion date. Delays in many facets of the business and drop in IRR due to lower gas price were never in anyone's calculations.

As I said earlier today we should make some incentive options for them.....ONE THING IS CERTAIN these directors do have the bank onside I AM NOT SURE if this would remain if they were out of the equation.

Shareholders, although upset can become worst enemies to the ultimate sale. IT is not impossible that a partial sale will be made to reflect a better value overall,also to buy some time to allow more drilling and commence production....the REX pipeline is now open for business.

A Partner who earns a % by say drilling a couple of holes would do wonders for reserves and relieve cash demands.

It can be argued that a more delayed sale is in the best interests to shareholders......IMHO if some of the larger sharholders "give em a break" we will all be better of sleeping and in our pockets.

Directors and others would do well to think outside of the circle.