SHG IS LOOKING VERY PROMISING AFTER THE PLACEMENT PROFIT TAKERS ARE GONE. WITH $90M IN CASH TO FUND IT THROUGH TO COMMERCIAL PRODUCTION BY JUNE 09 AND SOJITZ TO BUY UP TO 20% OF LACERTA WHICH SHOULD RAISE $150- $200M THIS TRANSACTION WILL VALUE LACERTA AT AROUND $1B AND FREE CARRY SHG INTO THE LNG PLANT. NOT A BAD DEAL. WHAT ABOUT ALL THE OTHER ACREAGE?. WILL SOMEONE BEAT SOJITZ TO THE LACERTA GAS BEFORE THEY SIGN UP IN THE NEXT FEW MONTHS?
I THINK WE WILL SEE RESERVE UPGRADES IN THE NEXT MONTH OR TWO.
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