joint venture, page-33

Hi Acreage,

I have absolutely no plans to sell any holding at this stage. I have a LT holding and this is what it is - LT - 12 months at least to take me into Q2 2011 and hopefully beyond.

I keep telling myself: Revenue, Heaps of cash, Niobrara, Gas sale, Potential Royalty, Bakken spacing, JV, Debt free and so on. I have never researched or known as much about a company as I do with SSN. In all honesty it was supposed to be in and out on sale of the land until I worked out what SSN could be potentially sitting on. No guarantees but I like it when the odds are more in my favour and the market has not given the company a fair value no matter which way you want to value it at.

When I say gone fishing it is just my sarcastic way of saying I am sure they are working on everything but we are unlikely to hear until the 3-D is done which will not be until the new year (I hope I am wrong).

Like you it is frustrating as I could see what could of been if the company had stuck to the timeline. But not everything happens when you plan it. The positive is that no one has said there is no oil so you know each delay means when it all comes together it will just be a bigger result to catch the mkt unaware.

I agree TB has done a great job to date but it is only half done, the hard bit is always turning this once off opportunity into the golden egg. To me as an investor I need to have the faith that TB and management will deliver or else I would have moved on. But I also like to call it as I see it if I think management could have done better, my prerogative as an investor. I like the strategy and I agree taking their time increases our chances of success and I am prepared to wait. But small things like the title on Diamondback should have been sorted prior to drilling, this was in their control and should have occured before announcing the drill dates.

In regards to the drive by investor, I have read the story on the US Yahoo Board and while I am not saying it is not true or is not worth sharing just take out of it what you want. The US board has some excellent posters, especially studythose, but it also has some nut cases. So I will follow the story but I will not make a investment decision on it because at the end of the day I do not really know if this person is not pulling the other one.

Keep up the excellent work I (and I guess many on this board) really appreciate your work. A forum like this always works best if we share the information we have rather than the standard HC forum of, well crap and $2 parties.