CHACO RESOURCES (new name for GMN)

Trotting,

I really wanted to be optimistic about Chaco but when I even think optimistically I end up being disappointed. So I tried to build up a realistic price.

I think you are probably right about Alea giving the price a boost once it gets into production.

Primavera could really be a bonus if Chaco gets it. At the AGM possible resources of between 200 and 300 million barrels were mentioned in answer to a question by their Stockbroking Consultant. Obviously, the company and its new ex-Lasmo director/partners in Columbia have a very clear view on the potential there.