Even more from Fergus......Thank you for your remarks re my timing Appleblossoms/Ferret but confession time, - I’ve been buying from 11.02 downwards. A broken clock is right at least twice a day, but as to the merits of this last purchase, it is far too soon to say. But it was Monday’s trading pattern in BIR that convinced me that something was up, and that led to my purchase yesterday. On Monday evening I was tempted to post that it looked to me that the cavalry were coming for BIR because it sure didn’t look to me like the typical retail buying day. But I’m glad I didn’t post that because I would have looked quite the fool on Tuesday with the news on the oil price and the drubbing given to the entire energy sector. And by Tuesday’s close Bir had returned very much right back to where it had closed on Friday. But even so, there seemed to be many willing Tuesday buyers for what was being offered, albeit at a lower price. So on Wednesday I jettisoned the last of my ECA and used the proceeds to buy BIR. Ranger you do have a point. I was surprised at today’s injection. There seemed to be good demand last week in the lower 48 so I could hardly believe that figure. They have been known to make revisions but in the meantime I will wisely defer to their published figure purely out of my respect for the EIA. However the rig count continues low and despite acknowledged drilling efficiencies in these last few years I can’t help but feel that we may soon see some resistance develop to this upward spiralling production. This is an industry that seems to be really levered up in terms of generous financing for drillers, and shale drilling is expensive (don’t forget that) with the result that there is very little drilling going on that is actually being paid for by what flows from the wellhead. If the price of oil is going to be soft for the next ¼ or two it could have quite an impact on drillers getting financing. And I throw in this point (from my other posts) that ethane is selling for less than methane. With the price of both basically in the krapper, and where (on the gas directed drilling side) methane and ethane represent the bulk of what is coming out of those wells how can anyone justify producing more and more of it? And I think in the last year and a half plus, the industry has managed its production lower due to the economics of diminishing returns. It’s the associated gas coming from oil and liquids drilling that seems to be the problem and that may soon be coming to an end given this huge correction in the oil price. These last couple of months have been one surprise after another right down to and including the huge jump in the spot today which I must try to fathom when I finish writing this post. But if somebody just simply decides to take a run at Bir because the price is right, well that’s just a completely different dynamic from anything I’ve said in the last paragraph. But even a purported buyout could just be just a "Fergus delusion". glta