Ancona and Cooper - you guys sound like you feel a liitle lonely as FNC supporters. Being an FNC shareholder as well as most of the other area plays I thought I would give you my current thinking on why FNC has gone from a star to a dog. FNC has gone from being the "alternate play" and the stock to hold in addition to NOT - to being the area play now being discounted and certainly runnng a poor third to FWR, SPQ, TME and even BMK. If I think back as to what caused this loss of popularity - it seems to be rooted in Peter Smith's parsimonious nature both monetarily and information wise. He wouldn't play with the others and drill his anomalies and he won't provide any information re plans etc. and FNC doesn't even have a website. This is one cheap dude. No wonder he doesn't get a lot of respect. The only two things FNC had going for it was its incredibly low market cap and its location next to NOT's DE1 and DE2. The discovery of the large AT1 anomoly on the boundary of FNC's property seem to imply good things for FNC. However NOT drilled 4 dry holes on AT1 which let the wind out of FNC's sails. Peter Smith said the holes were too shallow and they probably were but with the recent number of "drilled" discoveries such as NOT's DE3 & DE4, SPQ/FWR recent hit and even a rumoured BMK hit - this means that FNC isn't going to get any respect until they spend some money and get some drill results for themselves. I will stay in until FNC either hits or misses but I am not adding to my FNC position at this time. My bet goes on FWR for being the quickest payoff after NOT.

As an aside to Cooper - I wouldn't disparage John Defurs comments on FNC because he is bang on. It may hurt us as FNC shareholders but as much as it hurts he is just calling it as he sees it.