i was most heartily displeased at this

What are they doing with my .. I mean our, company now?

From today's AGM presentation:

�� BUR is also planning to sell some of its Chalk gas and condensate reserves to provide cash for 2009 drilling of targets generated by the 3D seismic


This 3D seismic project is being partly farmed out on behalf of BUR by AKG to cut costs. Then BUR is putting in its cash plus any net cashflow from the 5 Chalk wells.
Yet additionally, if I read it right, BUR is also going forward sell some of the chalk wells' production. Can't be a good time to be doing that, with spot around the $6.50 area. Once some of the reserves are sold, what happens if we need the cashflow from those just to survive? The cashflow future from the chalk wells should be left intact to keep some solid ground beneath the company's feet.

It's as if BUR is being over-stretched to comply with its required participation in the 3D project. The cupboard's being swept bare, and Mike Sandy's feeling behind the cushions of the couch for spare change.

Are we being pressured by AKG? It's ok to say in big letters that the AKG family is a BUR shareholder; but AKG is also a participant in its own right, and gets its fees as operator. Mike Sandy knowing one of them for 22 years could have a negative interpretation as well. It's not necessarily a good thing to have an M.D straddling both camps. I wish I knew the real nature of the relationship. We might just be the creature of AKG, however it's dressed up. Just cynical today I guess.