The Trinidad business was going to cost Monitor $90m for 90%,...

The Trinidad business was going to cost Monitor $90m for 90%, but $30m of that was initial working capital. I'm not sure whether Landau could get us a better deal than Monitor got- on the one hand the vendors must be desperate to sell now having watched the Monitor deal fall through after all this time. On the other hand, the price of oil now is significantly higher than it was when the initial deal was made. Landau has an ability to get reasonable assets on the cheap, so I'd say we could probably get it a bit cheaper, though not on the same terms as our $4.5m for 10% deal (i.e. I don't think we'd get the other 90% for 9*$4.5m). Maybe $65-80m, depending on how desperate they are, and how much we want exposure to Trinidad.

Not all of this would need to be cash in the bank, or indeed even issued with shares. Monitor were attempting to get a bank loan to cover half the costs, and have a placing to cover the other half. There's no reason we couldn't do the same. A bank will lend money providing you've got cash flow coming in and assets proved up. No need for share issues, just instead we'd use initial production to pay off the loan after we'd expanded the production capabilities to the 3600bopd target (and just pay the minimum interest on the loan until that target is reached).

So let's say we negotiated with Monitor to take over the remaining 90% for $70m. We pay $35m of that by using a bank loan, and use cash in the bank for the other $35m. We're still a little bit away from that target, and of course all numbers are hypothetical. It's possible we could get a bank loan for more than 50%- Landau seems to have good connections when it comes to fund raising, better ones than Monitor anyway, and we're listed on the AIM and have fingers in other pies, so it'd be lower risk as far as a bank was concerned.

If further funding is getting secured to take on the whole of Trinidad, I'd suggest that's the most likely route that would be taken. Bank loans to increase production are relatively commonplace in exploration.

As to how much extra we'd need to raise- for the Trinidad play, probably about another $15m (assuming the figures quoted above and we can get a bank loan). If as is rumoured on certain sites (though completely unsubstantiated at this point, so I do not pay any rumours of thi nature any mind at all) we're getting involved with another seperate project, then it's obviously going to be a case of how much extra that project will cost in addition to the Trinidad play that will determine how much needs raising.

I've no idea who'd take the rest of Trinidad if we don't take it all. Someone listed on the AIM or TSX was what Monitor said was investors preference, so there's loads of companies it potentially could be.

'Management' of specific newsflow to suit drilling partners is illegal- news must be released when it's avaliable, so I'd suggest the Georgia rig news will be released as soon as there's something to report. Plus as Edeco have already advertised for positions, they presumably need to give their employees a timescale as to when they would be expected to work. , and certainly wouldn't be holding back mobilisation/spud dates if they're ready to go.

I don't mind if it takes a bit longer either- better to have good news that's late, than bad news that's released on time.