The PP done at $4.70 for $70+ in cash was a huge blessing for us when I look back. A watched that BNN segment posted, and first off thanks for that! It mentions how companies with money can do well, possibly buying out their peers at cheap discounts.

This cash at hand and even cash from our operations is good enough to carry us for a while, at least well into next year and possibly early 2010. It's just nice to be able to not have to worry about that problem as many jr's face and I have to applaud the company even more now for doing it and getting that price.

How undervalued are we at this price? Like Josef S said, a measly $3500/acre and we're our old high's again. I know it's hard to sit around these times, but it's just a matter of time before things look up again. It's just fear and panic have gripped so many people that they're afraid to buy anything, no matter how cheap...whether it be the Encana's, Potash, Agrium etc etc...companies trading at huge discounts.

There is a segment on BNN and the CEO of Agrium came on (52 week high $116, trading today at $43)...he came on and said that there numbers had quadrupled, that there revenues were higher than ever and I believe said it was $1.2B. Just goes to show how easily markets can be oversold and how fear can blow things right out of proportion. Not to mention companies like Merrill and how with one downgrade from buy to sell with no hard facts can drag these great companies down.

So just wanted to mention how nice it is that we'll be drilling and drilling this year and next year without having to look into an empty wallet, or worse, look to a bank!:)

Have a solid weekend people,

Rocco:)