I guess you have to look at their announcement in relative terms. EVG's balance sheet shows 100Mil shares outstanding and $24Mil in cash in the bank...with minimal liabilities. We, on the other hand, have 1.5Bil shares outstanding and have no money in the bank to speak of.

I definitely think we have some very real, very substantial resources in the ground (opinion), but we are on the razor's edge in terms of getting cash flow started that will allow us grow organically. We need to keep moving the resources along the chain to get to proven b/c, as a banker, I would say that SLGLF's current financial condition would keep me from putting any real stock (pun intended) in 'Indicated' or 'Probable' reserves.