My biggest problem is still the question: "What for would we need $ 25 Million NOW ?"

Drilling at Borden costs money, but not $ 25M.

And if Dave puts an acceleration clause of $ 2.70 (!!!) on the 2 year-warrants, you could assume that he, at least, is considering, that the SP could be at that level within 2 years time.

Which further underlines my question of "why such a big PP NOW ?".

Nobody came up with a convincing argument FOR such a heavy PP now.

Another point regarding the SP depression theory: why is there no stronger buying pressure, if the company is so under-valued ? I would concur that you can depress the SP over a limited period of time but not for months, if the undervaluation can be clearly seen by the market (if we can see it, the market "must" see it as well).

FANTOMAS