just rang company, page-5

Turtle has had to drill 200m . 15/20m a day has been the pace so Friday is about right .

The share price and option question is forcing the impatient to sell on low volumes . The current market cap is just over 50m dollars .

A 7.5c SP at current dilution sees a market cap around 60m dollars . A 9.5c SP with options dilution will show a market cap of 105m dollars . The market cap is stranded between the 50/60m dollar mark and cannot break out until flows determine if this is truly a 100m dollar company . Logging results could help and push the SP towards 7.4c again but no doubt it will be capped there and be under the same pressure a week later .

Question.... what flow is necessary to justify a 100m dollar plus MC and option conversion .

Whatever it is I hope it makes it and soon . In the event of the options not making it we would have to say that the SP will remain static circa 6/7c for 8/10 weeks . What flows would justify that ? Under 350/400 ??????