texas underpinning, page-10

I mentioned the 99% duster - read the announcement closely, we have hit granite which to some is time to cement and move on but the inexperienced Range and Red do not want to cut their losses and make this one of the more expensive dusters in for 2011. The 5.6 million Red cap will be exceeded on this first drill probably already exceeded. Therefore, Pirate Pete will have to fund the 2nd drill giving Red a 20% interest in Georgia for probably 1/2 the first drill considering the first drill will cost around 10-15 million to get through the granite that may never end. Hence the recent capital raising of 15 million for the next potential duster that is very close to the first.

I did not say 4p, I said 4/10ths of 1 cent and provided the maths to back that up if Range does not hit www.delisted.com.au before then.