Hi Sculpin

Sorry you didn't make it to the AGM.

With respect to the Vilcoro. Is it possible that we are farther along the proving up Tesoro than we are led to believe? For example, consider that we get Tesoro proved up to a certain extent by, say March and get an offer for the whole of SLI. If we have not done any work on Vilcoro, that property is not worth anything in that offer.

But, suppose we are to start Vilcoro and get an idea of what there is (only an idea) we will know if there is value to it at the time an offer comes in. Then, we are in the position to decide 1) if we want to spin off Vilcoro into a new company if the offeror does not want to put any value on it, or 2) decide what the value of it is if the offeror wants it too.

I guess what I'm trying to say is that we have to keep more than one plate spinning at any time to get maximum value for our shareholders.

The concern I have though, its great to make statements that we are going to start on Vilcoro right away, etc. etc. But if we took so long getting reputable drillers for the Tesoro, How many months will we have to wait for getting "reputable drillers" for the Vilcoro?

I trust the great DD done by the hub leaders, so I choose to stay positive but a lot of us expressed displeasure at the AGM about being kept in the dark regarding managements objectives and progress.

Ismore