What pw describes is exactly what my strategy would be if I was Peter Smith, and I beleived I was the owner of something big.

Smith is either very dumb, or, he is acting like a shrewd strategist who believes he has something, and my bet is on the latter...

There is no good reason for him to do anything but prepare to drill at this juncture, while his his SP rides NOT's success, because if he has what he thinks he has, and he has the money to test this hypothesis, this will change the whole context of any potential negotiations of financings.

I suspected that this was his stragey early on, and I remain invested because of it. It makes absolutely no sense for him to any deal now, or cooperate with NOT, IF, he believes he is holding the bigger piece of the pie, until he drills.

You can bet that Nemis, who obviously was not able to get Smith to do a deal, is shrewd enough, despite his nice guy demeanour with shareholders, to try and downplay anything about FNC's prospects. This is all part of the game... McFauld's Lake pokker.

My biggest bets in the Mc Fauld's Lake area on NOT and FNC, and from what I have seen so far, I think they continue to offer the biggest potential pay-off.

Regards,

B.