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REAZO

01/26/10 4:53 PM

#48926 RE: kelseyf #48924

Sure wish I would have bought more at those levels. I averaged down, but not as much as I would have liked (hindsight is always better). Are these prices still good buying opportunities? I have no idea. Time will tell. Who/whatever seems to think so.

From what we know publicly, I would bet the company could be valued up to .02-.03 or so. Just based on some guesses about the leases we hold, what WY was bid at, etc. But so much has or may have changed since the company's last communication, I wouldn't dare to bet above what we knew about hard assets on the CEO letter. Even with that, some assets likely included in the SEK sales to red cloud, but add in other things not in the CEO letter about other lease details. I'll just stop now and admit that it's all a guess but feel good (just me personally) up to the .03 level.