Many thanks VP and Willy, I always appreciate your insights.

After seeing the fiasco with the last round of litigation, I am perhaps a bit gunshy. Still, having heard Briscoe say himself that there are entities who would love to watch us go broke and swoop in on the leftovers, I am happy to be going into any negotiations sans pending legal wrangles. They are potentially thorny issues that bring that most unwelcome of commodities, uncertainty. I know a large suitor can throw lawyers at anything, but those large suitors have a lot of properties and juniors from which to choose.

And under the same cautious outlook, I see a company that has less funding options at O/S 850M than it had at O/S 400M. I understand that for a strong suitor the share count is a non-issue. I am simply saying that if we have to keep the lights on for another year or (?) before the black swan arrives, the (?) is a shorter interval at current O/S. The outright partnering in a newcorp with a large partner is only one possibility.

I'm a big fan of the science here, and I think that Briscoe and board are smart honest folks. Having averaged down periodically since the A&P nightmare, you could call me a believer. A cautious, practical believer. Not trying to rain on anyone's parade, just raising modest concerns and inviting dialogue. I learn a lot from some of the discourse here.

I look forward to a spectacular drilling season and I hope it's soon, for everyone's sake.