other eagle ford plays, page-3

"There was that UK based co. that Agentm talked about back a few years. Can anyone remember that one? I followed it up til a year ago, but it wasn't doing well, but the tide may've turned."

It might have been Empyrean Energy (AIM: EME), which has a 3% stake in Sugarloaf and is still not doing well (comparing its market capitalisation to EKA's and adjusting for different WIs etc).

AUT is my principal investment and it can only be 4 - 6 weeks now to the new reserves certification and the TSX float. Not a time to sell, imo.

In the UK, the Sunday Times had an article that seemed to be bent of re-awakening fears of petrol rationing - based on static levels of production (the economic woes stalled investment) and likely increased demand (for some reason, the oil market scribblers were focussed only on the economies of the "west" and could not identify increased demand with the increased economic activity in Asia and the East. Stupid, really, because of the economic mix - higher proportions of energy consuming manufacture as compared with the lower energy consuming service based economies of the West. But, they are paid to scribble, not to think.

BP has just formally entered into ties with the Russians to explore Arctic regions but that will take years to produce anything.

The oil price is starting to look quite firm for the next few months, which bodes well for the reserves certification.

AUT is a good way to hedge the future cost of filling your tank. The news is full of horror stories about the ballooning cost of fuel but I can only sit there grinning, I'm afraid.