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DFYSW

03/20/13 11:17 AM

#250390 RE: AugustaFriends #250336

PGRX volume drying up, will break one way or the other on news. Large and inside owners still holding. State permits and private leases require ongoing exploration or development activity to remain in force. There can be no delay in completing the bankable feasibility study in 1H2013, which is needed to gain funds that continue uninterrupted progress toward the late 2015 production target which must be achieved in order to meet required performance under $2B offtake contract that begins in 2016. BIG pressure to get back of track fast no matter what caused last week's coup IMHO.