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To: George Burdell who wrote (659)	4/19/2004 11:51:22 AM
From: Condor	Respond to of 1338

Thanks

To: George Burdell who wrote (659)	4/20/2004 6:06:57 PM
From: GeoDude	Read Replies (1) \| Respond to of 1338

"No, it's around $500 mil now. Tons of shares although >50% insider owned. I was trying to say the reserves should take it well north of current levels. That only reflects about $0.30/bbl to the bottom line, based on just the expected JDZ awards. If Gulf of Mexico oil was profitable when crude was $20/bbl, I think they can clear a whole lot more than $0.30 with crude at $36." This is too funny ... they have small interests in rank exploration areas in DEEP water (try 5000'-10000') and have no interest in the best Block (block 1) where the major players are fighting each other. They have to fund their interest and have no cash whatsoever. They have no reserves, no wells have ever been drilled in these blocks and the risks are huge.... and the company is worth over $500MM. LOL. Then again there are no limits to what the market will do with poor information ... Good luck. LIA From their recent 8K --- the blocks they have applied for: Choice 1 Interest 15% working interest in Block 6 Signature Bonus Free Choice 2 Interest 15% working interest in Block 5 Signature Bonus Payable Choice 3 Interest 20% working interest in Block 3 Signature Bonus Free Choice 4 Interest 30% working interest in Block 2 Signature Bonus Free Choice 5 Interest 25% working interest in Block 4 Signature Bonus Free Choice 6 Interest 20% working interest in Block 9 Signature Bonus Payable