Steven,

While I agree with geo that things aren't going well for the company, I don't believe "the strip" is dead. I've talked to several people includung Tracy. She says she doesn't know what is happening but I can assure you of this, that if the Companie's #1 project had the "plug pulled on it" everyone in the Company, including the janitor, would know about it, so it's not dead. In the interest of trying to be helpful, I'll give you my take, but it's just my opinion.

The last Q posted on 6/16 shows there is over $1 million in the Elle JV account. That means the pipes JV is not dead, just not being drilled right now. Putting together bits & pieces, this is what appears to have happened, IMO. The JV was using LBSU's diamond drill rig(expensive), to drill the pipes, when only a rotary rig(much cheaper), could handle that. LBSU got an offer to lease their expensive rig for whatever amount of time and being low on cash leased it out for the needed revenue to cover paying for it. That leaves the JV with no drill rig. You just don't decide to rent one of those for tomorrow. They have to be reserved some months in advance. So, until they can find an available rotary rig to get on site, Elle isn't being drilled, but there's money in the account so it will in the future when a rig can be obtained. Just my take.