RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:but you bought this junk!Thanks for letting us know that management has no creative abilities. I'mquote=PetroExplorer]Murr, the problem with these NAV statements, is they only apply when the oil price is above the price forecast used in the NAV calculation. We are starting to get there, with the current oil price, but weren't there, for a large portion of this year. I think of these NAV statements as just management people talking to themselves, about how good their assets are, when they aren't that good. They want to make shareholders feel good that the company has some value, then jump at the only 6 cent offer that they can get, while the banks threaten that they want to get their money back. You can bet that in a firesale, the NAV doesn't mean anything, in a depressed marketplace. I've seen countless NAV statements from all the companies that went down: Legacy, Long Run, Pine Crest, and so on. They talk up their NAV in their reports, then they ultimately sell for a fraction of the NAV. The only way to realize some increase in NAV, is to wait for the oil price to rise, and continue to do the required spending to maintain some level of production, before it declines down too low, to recover. Ignore those BS statements that you see people make about their land values: nobody cares about undeveloped land, if the Government isn't making money on land sales, because all the oil companies are struggling to survive. That's just another motherhood statement. So to get some value, we need to keep this company going, and not get sold off at the bottom, and also keep the bankers satisfied that the money is not just being blown away on high management salaries, and dividend payments to shareholders. Of course when the oil price rises, this will start to generate proper cashflow.[/quote]