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RUBY1100

11/09/07 11:35 AM

#111212 RE: balance_builder #111209

BB - Dan is not the main player here
I spoke to Peter yest at ER Headquarters and even he knew of the revised Addax time frame update - HE WAS NOT WORRIED - [seems ER management is NEVER worried about anything - wonder why :-) and he confirmed the BOD meeting coming up]

Hinted there MAY be some interesting developments
no specifics [IMO perhaps a new CEO / perhaps the DOJ is getting off our back etc perhaps a buy in approval ???]

I think they are waiting for Addax to formely announce any changes / updates to their shareholders and on the earlier well to be drilled in BL 4 now Q3 vs Q4 !!!!!!!!!!!



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Opus X

11/09/07 1:13 PM

#111231 RE: balance_builder #111209

BB, I received a reply from Dan late this morning which I just saw. Essentially, he said the same, they are looking into what was announced this last week by the Addax exec and don't be surprised that schedules are fluid.

GLTA,

Opus X