To: LLGM who wrote (33 ) 7/7/2002 10:03:57 AM From: Ed Ajootian Respond to of 115 It certainly was encouraging to see this close over $.50 yesterday. As I've said before, $.50 is a key resistance point since there were a ton of warrants issued at that price in the latest financing. Also, we had another 144 filing, this time for 100,000 shares. The fact that the market is taking in all of this new supply and the stock is still ticking up is most bullish. As to making calls on the near-term price targets, I will leave that to those more knowledgeable than I. IMO the only way this turkey gets up to the $.75 -- $1 range is if they they announce some major new project. I don't see their current project taking the stock to these heights for another 6 months or so (i.e., not until they drill and complete the next round of wells). The market woke up on the latest announcement because this latest conference that Howard is attending is not a really a hype show. He was _invited to speak on a panel of experts. He's gonna be up there with all the big boys, and its not because he cut a check for the privilege. This indicates that the rest of the O&G and investing community is taking him seriously and it dramatically increases the likelihood that he will be able to find someone to farm in to his next play. About the volume, the last three days trading, together with what is likely to occur over the next 2 trading days, are truly an historic period for the stock. It has yet to trade on the OTCBB more than 300,000 shares for > 3 days in a row. If volume is > 300K shares on Monday that'll be a new record and will constitute an incontrovertible indication that someone with big bucks (i.e. an institution?) is building a position in the stock. We have been incessantly pounding the table on this one over the last several months and Howard has been tirelessly spreading the TTPT word amoung a lot of heavy hitters. Looks like we finally bagged one. With all this in front of us I consider this stock to be a better buy now than its ever been. All the fundamentals are in place (and have been for the last 3 months). We finally are through the waiting period to get the financial reporting in line. The next 10Q, due out sometime in the next month or so, will contain results for the quarter ended 3/31/02, the first full quarter that they had ramped up production. And to complete the picture we have unprecedented volume accompanied by strong price appreciation, showing that the Big Boys have bought the story.