Why is everyone assuming that we must continue drilling at this time.....why not wait and see what comes back from the labs first....at this rate, that should carry us through on news for a few months with little cost...Drill results from W-3 might create an opportunity for near term cash flow as well

Furthermore, NOT has many JV agreements....the JV partners are obligated to drill in the first year in most if not all cases.....this could be another source of news over the next few months with little cost as well

Lastly, in this environment, we've all witnessed the premium the market is prepared to give for positive drill results....at this time, it is a waste of very important and strategic resources

Bottom line is this....there was no need to raise cash at this time....cutting back vs raising money for more drilling would have made more sence....but then, if they announced that they would just ride through this storm, that may not justify the options