|Ed: My reading of the "tells" around the poker table of oil and gas is that they will put the Rolls Royce debt to bed fairly quickly. FXEN has a Polish national trained in oil and gas in Poland on their management team. They are doing a great job of obtaining very attractive Permian prospects which are of the same geology as the original Groningen gas field in Holland and the North Sea. Poland is simply an eastern extension of the same geologic structure. The wells they drilled with Apache were wildcats but the wells to be drilled with CalEnergy are much lower risk with the potential for huge reserves. Time will tell. I'm loaded with FXEN stock and am feeling very optimistic about this company.|
Also, my oil and gas activities in Alaska are doing great. In short, I put back together what I called the Hanna and Marie prospects on the West side which are both gas and oil prospects. Also, with a partner, I acquired half of the Umiat Oil Field on the North Slope in NPR-A in the June BLM lease sale. Very exciting stuff. Details some other time.