Ann: Thorsby Drilling Update Leo 3 finished drilling, page-131

Hi mate.

I never thought I would see BRK at 2.4 cents after it's proof of concept well came in at 1238 BOEPD, still cleaning up with production increasing and the SP has fallen 30% during which time the price of oil , gas and NGl's has risen by a similar amount.

One thing is for sure,( and the market keeps on reminding one) .... nothing ever happens the way you expect it to, it is always better or worse!.

CE1 is one of those where you know what the value range is, especially when your metrics are income and asset based backed by production and cashflow. You look at the disparity between the value vs the price of the stock, just scratch your head and wonder if there is something wrong with your outlook. You recheck your numbers and say "WTF,...it is what it is at the moment. I'm right, the market is wrong" and carry on.

The market will come to the party at one stage, it always does, but not in the time frame or the extent you think .

Cheers

Dan