improved analysis, page-6

Love it Adequate....I can see that your effort is indeed quite a task. One thing that you could add, (hahahaha get the coffee on!)is the relative interest % for each Co.

I am finding that, that is a real frustration when trying to evaluate a value for many stocks. You have to pore over so many reports to see who owns what % of which resource!

I am thinking of developing a spread sheet for just that purpose, but heck there just doesn't seem to be enough time in a day!

It is just a problem, to be dazzled by extremely good resource estimates until one realizes the company may only be exposed to 25% or 40% through various farm in/out agreements. Usually with conditions imposed regarding expenditure and other targets being met.

This situation has always been but it seems to be more and more the case.

Keep up the good work..I am finding your work adequately useful ( sorry couldn't help myself :) )