Replies to post #7158 on Mostly: Classical

[amarksp]

that's a 68% drilling success rate, and not an increase to total reserves...

only options available expire Feb 04

should know soon whether the considerable drilling done in late Dec 03 and early Jan 04 hit enough paydirt or not... seems a reasonable risk/gamble.

there is risk that the audited proven & probable reserves will not be disclosed until after the Feb 04 options expiration, but the rumor mill should get wind if positive or negative...

it's a pure educated guess/gamble...which could go either way... will likely exercise my 4 call $15 options for actual shares if REM hits paydirt... thinly traded, so I am pretty much stuck with them until Feb expiration since the bid will likely be under the fair value (i.e. negative time premium)...