A drawback with increasing the drilling program to prove up reserves and increase the stock price is that it costs money. Is it worth paying $50m for a big drilling program in order to avoid paying back $90m in debentures?

The smart way to do it would be issue more shares (groan). Let's all sing together now: "I've those those old flow-thru share blues ...."

The timing on that plan will be tricky. The big reserve reports are released in July, so the 2011/2012 winter drilling program cut-off date is December 31st, 2011, for the purposes of GLJ preparing their reserves report. But that report is released in July 2012, just a few weeks too late (after the debenture maturity date). So realistically, all drilling needs to be done a year earlier - next winter.

Or maybe they can still drill to December 31st, 2011 and just have GLJ prepare their reserves report a few months faster.