look at americanbull.com on the web and you will see this company covered. There are people that move in and out very quickly. I believe yesterday, alot of the drop occurred in the first half hour. They were working on the quick buck idea and some people or institutions may be very heavy weighted. You may also find that the drop in SP may have covered stop loss prices and triggered sales.

There is more to this company then just Preeceville and the second well could very well be successful. In the meantime, one of there expenses causing losses was the granting of options. You know what that triggers in the balance sheet - usually a loss. We lost less then 0.01 per share this quarter. They have raised money and they are sitting OK for this year. Oil and gas, if I go to the gas station or use oil for my house is showing huge price hikes which bodes well for this sector. I went to fill up our car on Sun and gas was $129.9 and home heating fuel was $123.4 last week a Cdn Litre. Last Nov we filled up our oil tank and it was 0.899. You do the math.

In mining you can get a bad hole and you learn from it. They are learning from this one. One hole and moving to the next one - not that bad, IMHO.