Project Icewine Overview, page-218

You need to support your bear case with some research.

The price naturally declined on the back of an oversubscribed CR of $25 mil needed to fund ICE2...this was achieved during a huge oil bear market, which is positive marker for this stock.

Lets also not forget that a fairly large contingent of investors had just 10 bagged and were well aware that further drilling activity would not arrive for several months.

So of course it was prudent move for some to take profit.

Recently we've had US iis pumping in $11 at market price and AEA + BEX almost doubling their acreage on the back of some very positive conventional leads with more to come.

On the macro front oil price is recovering with the OPEC reductions and of course against all odds we have VERY oil friendly new US president, which is very good news for an Alaskan oiler.

Why not down ramp the founder of this project, as it's his 6 years research and infallible reputation as a geologist at stake......GOOD LUCK!! with that one