HC, yes it was only last week we were talking about funding...

HC, yes it was only last week we were talking about funding requirements, specifically the merits of permian, still not convinced. Would need access to all numbers, which we don't have, to determine it merits, so will just leave that one alone for now.

Apart from the recent raisings in the discussion above, the amount raised from the sale of assest (21mm less expenses and debt repayment if i remember correctly) needs to be considered when talking about SH funds being churned through the last 12 months or thereabouts.

Additionally one point which I find interesting, STX is continuing to increase its EFS land holding, along with its partners I assume. They have previously stated they are/have carried out evaluations prior to the commencement of drilling planned for mid 2012, but no information has been forcoming in terms of what evaluations were actually carried out. A large portion of funds I assume have gone to the acreage being acquired.

While I have read the literature about the prospectivity of where they are acquiring land, i begin to get an uneasy feeling that company is either taking a huge risk with SH funds, or knows more than what has been realeased to the market? Might be stating the obvious here, dont know?

Not being negative, just like to be devil adovacate sometimes to balance the discussion.

As always time will tell...still holding, will reassess after current CB drilling. My 20c worth for tonight (or is that 17c!! :-D

Cheers, vaga