Eldorado Exploration Inc (fka EDEP)

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J, thanks for the insight but I would disagree with some of the things you said / in the way some things were said.

1. It is called a "dry hole" but it is not a dry hole. We hit oil! Just not the main vein and not enough to justify further action of setting up a pump system: Not cost effective but not dry. My points would be that we did hit oil, its not really dry and that the PIP did its job. Was it a direct hit? No. In this you are correct. Its called a dry hole, but this term paints an incorrect picture. Its a drill term they understand, but the public misunderstands. Is our "dry hole" completely salvagable? Yes.

2. We aren't leaving this hole (because its not dry) We will be going back w/ a horizontal drill to the main vein. At this point it will be productive. Right now, this is low on the priority list. We have it in our pocket and that is where it belongs until after NM and N. Texas. We are not walking away on this one. In the words of Arnold: "I'll (We'll) be back." This is IMO.

You are right about much and this might be nit picking, but IMO, many who sold probably had inside info, sold and bought back. I see it all as very positive.

And Yes, our future, with all the leases we have, looks bright.

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