Al,

As far as drilling, all he would say is that it would be "sooner rather than later" and explained that the process of preparation was already in motion... I firmly beleive that they will be drilling in March.

I did not ask about what sort of agreement he had with Biliken, but the way in which it was presented during our conversation indicated to me that it is an established deal/arrangment - it was spoken of in present tense, not future tense. I doubt he would present it that way if it was not, and if that is the case, one would have to assume that its a contractual sort of arrangment.

Regards,

B.