No question that in today's market, a company must have adequate cash to weather this storm. Absent from having cash, the company will be forced to entertain offers, merge, or even go to the market with a stock offering.

You don't have to look any further than Minefinders(MFN)today where they announced an offering and dilution to raise $40 million. I am very disspaointed with this move as a shareholder, but what can I do? I cannot do a thing but am being penalized due to their lack of cash. Look at Chesapeake Energy(CHK) last week and their $1.8 billion share offering and its impact. I am not a shareholder in CHK, but there are many who are and are sorely dissapointed. The problem this dilution creates is a lower stock price and the higher possiblity of a takeover.

As a shareholder in TYHEE, I believe their best plan is to halt drilling through the winter and conserve cash. They can spend the winter refining their estimates and rework their plans for next year's drilling program. Maybe in the spring financing will be easier to obtain and some of this mess will be behind us.

Having cash in the bank is the most responsible thing Webb can do at this point for his shareholders.

SilverNut