This annoucement shouldn't be a surprise to anyone, all one had...

This annoucement shouldn't be a surprise to anyone, all one had to do is look at their last cashflow report, note cash on hand vs estimated spend this current quarter.

Anyway what is a little disapointing is that only one well has been drilled after last CR. Also note this is second CR since sale of US assets, jury still out on that decision with benefit of the doubt still holding but wearing thin.

Other point I would make is these guys don't need to be chasing any new projects (read Permian basin was a little curious). They going to have more than a challenge funding the current projects. If you want to draw comparisons with ADE, it should be this point, not whether BPT is going to take STX out!

Finally agree with 618 on one point, will be interesting to see what Carnegie does?!? I'm also curious to see what directors do in terms of putting a little more skin in the game. As always......we will see!

Cheers, vaga