very stable, page-12

Dargie,at the 2006 agm howard told me that the buyback was instigated to stop the stocks value falling below cash value.ie they didnt want a predator raiding them whilst assembling their drilling portfolio simply for the cash at bank.Also as directors themselves are large shareholders they didnt want their stock value diminished.ok where are we currently.harrison 1 -pending success.scott 2 -pending success.garcitas ranch-pending success.new taiton(still early days but my call)-pending success.lonesome dove- initial failure,although the confidence that howard showed at the agm for this particular prospect,they will drill another well.Kmf-228 kennedy ranch-at the agm i said to howard that i believe there is 30bcf of gas in the shallower zone.his reply-i agree with you.SO PENDING flow testing of these wells and reserve sizes there is potentially a lot of value here.(500 million market cap by end of cy 07 approx $3.15 per share) I think they are going to have a red hot crack at this.do your own research i would like to think ive done mine.good luck all.