The advisers to the JV deal are now acting as underwriters to this new financing deal. That tells me there is huge demand they can satisfy. This is very positive news. Putting aside all the drama the last couple of days as the JV deal gets better understood and as additional information comes to light, I would suggest taking a look at our share price on June 4. On June 4 we closed at 54 cents, now we have huge demand at 50 cents. I view this as a huge vote of confidence in the Jv deal. Once the permit is issued (IR confirms this has to be done prior closing per Binding Agreement) and negotiable A&F Agreement is completed we vote in August. The underwriters are putting this deal together without even seeing a permit! What does that say? It says they have $ 35 million in confidence that this deal gets done.

The talk about the BCV gold sales rule remains noise. The Chinese aren't getting in this for fun. They fully intend to make a very good return. Watch as the Chinese JV partner carves out a side deal with the BCV as indeed the Western oil and gas operators do on their deals with PDVSA.

Any drop towards 40 cents will be quickly taken up. I for sure hope to grab some more.

Furthermore, for those that still don't see this JV deal happening - all I can say is that financing is in place to take us through arbitration!

Win-win.

My only question is - does Chinese JV partner participate in this offering before the A&F Agreement gets concluded because that would be very indicative of their intentions!

Teutracker