From a 30,000 mile look down on all the latest developments overall I am OK with where we now are:

Teck takes over the bleeding costs of drilling to firm up what the CUU team and themselves know is there to the East.

IMHO our 25% share will then become a relatively quicker ROI than our previous Options Agreement.

Although this has not panned out in comparison to what I originally invested in CUU a few years ago, in light of the current economic climate in commodities and the potential for this to still give me a decent ROI I'm happy to sit it out until the end. If it takes until 2014 then so be it, just gives me yet another opportunity to transfer shares into my TFSAs and release me from some more capital gains.

If a buy-out of our 25% happens post-release of the East drilling results then even better, I take the money and move on to the next opportunity.

Either way, things can only get better i.e. more M & I resources from the drilling programme, a major commitment from Teck to CUU, ES still doing what he does best, hope to see the same effect on BXX this year. That would be nice to see.

GLTA

Max