we live to fight another day, page-7

My basic business plan.

1. Get support of major lender - DONE
2. Raise $5-$7.5 million to give to JS to get the wells moving. I think this is basically already raised.
3. Over the next 90 days firm up long term support of bank.
4. The bank has no intention of collecting the $5.0mil in 90 days. This is clear for the following reasons.

- They have just INVESTED $? mil ( say $15mil) on the company by buying out the Belgium bank they understand that any equity funds being raised need to be applied to JS to further the wells. Not repay debt.

- The bank is fully aware that the best outcome for all stakeholders is for Jay to extract gas.

5. Jay to extract the gas. I note that the costs of extraction and one of the main hinderances of previous well developement have been effectively managed with the acceptance of 2 of the wells as "water wells".

6. I would expect to receive regular updates on Jay's success on extracting gas. I would expect these to start being delivered say 8-10 weeks from Jay receiving the funds.

6. Extract meaningful amounts of gas and the company immediately gets re rated.

7. Hopefully by Xmas the company will be producing 10mmcd

8. Raise funds to put a few new wells into the "shale" plays. If not raise funds then JV these costs.

9. New reserve report.

10. Hopefully by March 2011 Jay is extracting at least 20mmcd, we have our 2 best friends CASH and FLOW, and our friends at Goldmans reengage the interested parties.

11. Enterprise value of company at least $400mil. Depending upon gas flow and general market sentiment this could be twice as high.

12. I think GAS in the US will be big in 2011 and 2012.
The private equity firm KKR certainly do!!!

Good luck to all holders, this IS a significant event, we now have a bank whose fortunes are alligned with those of the shareholders.

But most importantly GOOD LUCK to Jay.