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To: KaiserSosze who wrote (81147)	8/10/2009 8:15:45 AM
From: Dale Baker	Read Replies (1) \| Respond to of 118717

I just started reading the GTE report but this explains it; the key thing is real cash flow, like always for small cap EPs: "Non-cash depletion, depreciation and accretion expenses of $32.7 million and unrealized foreign exchange losses of $31.0 million, contributed to our net loss for the quarter of $28.2 million. However, our funds flow from operations was $36.0 million in the second quarter and our underlying asset base remains strong. We believe we have successfully positioned ourselves to generate the cash necessary to fund future growth and allow us to fund our ongoing development and exploration program, including fourteen exploration wells in Colombia and Peru beginning in late 2009 and continuing through 2010. Our balance sheet remains very strong, and we expect that our capital expenditure program for the next twelve months will be more than fully funded from cash flow and cash on hand."