Insights by our British friend KissxOfxDeath on the TMF board. (thanks KoD)

http://boards.fool.co.uk/Message.asp...

Comment:

This further cash at the higher SP we are currently experiencing is I hope enough to see them through the testing phase which is supposed to be this summer. It really is make or break time this summer in my view. If Exxon test the three wells and then they are even moderately successful then that news will not be kept quiet long even if Exxon were to want to sit on the information.

I am impressed by two things. Firstly, the limited dilution caused by this latest begging bowl exercise. Secondly that the cash is supposed to be for Hungary which is basically where all the value is in this company and not for any of the other utter nonsense activities that management has been flailing around doing for the last few years. I can only attribute this to the new board taking control of the situation instead of the morons who previously made the decisions and of course I welcome that.

I think the option to repay the bond from June 2010 is an indication that management are also of the view that the next 12 months will see the company dead and buried or at SP levels where repayment of this bond will be a minor matter.

Some posters may not be aware that further studies appear to suggest that the hydrogen sulphide issue that caused such strife three years ago appears to have faded away as it became clear that the readings for H2S were actually due to faults in the equipment and the products used rather than being generated underground. This will significantly reduce the costs and difficulties for future development of the play if it is commercial. It only remains to wonder what might have been if the company hadnt been staffed by incompetent cowboys in the first place and it had been able to test the wells it drilled three years ago successfully.

So we wait.

KoD