right direction

QTRLY makes good reading

Highlights:
1. Yellow Rose Project Eagle Ford land acquisition of 9,697 acres totaling 18,274 acres. - Just need the flows !!!!

2. Bluebonnet Project Eagle Ford land acquisition of 5,754 acres. - very promising if Yellow Rose stacks up

3. Petrohawk Term Assignment land acquisition of 3,748 acres totaling 8,558 acres. - fraccing soon !

4. Yellow Rose Project working interest increased to 75%. - automatic increased shareholder value if Y.Rose flows.

5. Bluebonnet Project working interest 87.5%. - nice work

6. Yellow Rose Project Independent Resource Statement – Best Estimate 2C – 840 BCFe. - huge !

7. Bluebonnet Project Independent Resource Statement – Best Estimate 2C – 298 BCFe. - huge jr.

8. Yellow Rose Project – Frances Dilworth No 2H well successfully drilled and cased. - it's all in the flow though

9. Yellow Rose Project gas sales line in development. - confidence personified

10. Capital Raising $14 million – Overwhelming demand and SPP 100% oversubscribed. - got me some.

11. Board of Directors Restructured – Sharpened US Operational Focus. - directors don't make a well flow but hopefully will guide the company well post flows.

12. Buy Back of AZZG – Average price $1.35, Total number reduced to 7.5 million. - no complaints

13. Convertible Notes Successfully Reset on Existing Terms – Next Reset 31 October 2012. - very good news.

14. Cash at end of Quarter – $9.041 million. - other wells producing well and providing good income at a point of low prices


not long now folks.