What institutional salesman was going to get on the phone and put aweigh millions of shares at $ 10 based on 30 meters of pay and an oily Q-Tip retrieved from the bottom of the well at Twiga compared to maybe 143 meters of pay at Ngamia. Just how stupid do we think investors are ?

A lot of us here have a 500 % return in one of the poorest markets in history and yet we are flabbergasted when a little profit taking occurs just weeks before year end. Add to that some tax loss selling and not knowing when we might get good news again and you wonder why the stock is off ??? I think we're dam lucky the stock isn't at $ 7 or lower.

I think the Keith bashing and manipulation theories are grossly overdone.

The Lundins add at least a $ 2.00 premium to this deal and Tullow probably about the same. Anyone else and we wouldn't be trading close to $ 4.00 in my view. I'm certain the Lundins would have been much happier to do a deal at $ 12 or $ 15 instead of $ 7.75 but it wasn't in the cards or really it wasn't in the ground to justify that type of pricing at this point. No one I know but the Lundins could sell a $ 200 Million PP in the middle of the night !!!!

Non Brokered doesn't mean brokers aren't involved, it means that Brokers aren't required to sign off on the deal and don't have to jump over compliance hurdles but can still refer clients that qualify and collect a finders fee, call it a fast track !!!

In fact I doubt there is anything prohibiting anyone from participating as long as they qualify under one of the exemptions so call your broker if you are really that interested.

On the brighter side this is the last equity deal we may ever do. We now have enough money to drill at least 15 wells and de risk every basin we're on and I suspect a takeover or a merger will happen long before we need more equity.