how much left in the kitty, page-10

el


"You can use "cash equivalent" along with the coeboys in fairyland, but I will use "cash" only in the current environment."
this is your first problem

They are not termed cash equivalenets for nothing. I have disounted certain things such as the value of reserves but deciding to not value IPM shares is fundementally flawed. Thank God you dont work in the unit pricing department of a Small cap managed fund otherwise its unit price would be zero.

re bargou -hammamet, it can be farmedown, despite your confident assertions to the contrary, simply getting a farmout of bargou which includes part of hammamet and associated costs, COE are considering offering both permits for consideration in farmout discussions