RE:Conference call transcriptWeeble...Cheers! Thanks for taking the time and putting in the effort to dig up the seekingalpha transcript of the conference call earlier today. I wasn't able to listen in live, so the transcript saves me having to sit through the replay, and allowed me to reread sections to ensure that I understand what the TAO executives are communicating. Briefly, here are some of my impressions from the call and the financials and MD&A it referenced: 1) Interesting to see Ashley Garnot is handling IR for TAO, as well as being on the CRD BoD; 2) All the executives who spoke today seemed to be straight shooting the situation...a situation that, by any metrics isn't that great (flatlined production, declining 2P reserves, dramatic reversal of positive and growing eps, etc.)...including using realistic oil and natural gas pricing and exchange rate assumptions in their 2016 guidance. To me, that is a breath of fresh air in comparison to what we used to hear in TAO's conference calls; 3) Further to the straight shooting, this new executive and operational team seems to be taking a hard and objective look at all of TAO's assets...and making the hard decisions as to what stays and what to hit the Eject button on. Previous management may have been too married to the assets that TAO had accumulated during their tenure, and their high risk high reward potential...and certainly proved unable to make an economic case for chasing those lottery ticket dreams in a much higher oil price environment despite throwing a LOT of money at the opportunities. Fresh eyes in this new normal for oil pricing has already resulted in permits being relinquished, with more to follow if the situation demands. 4) I'm disappointed that this team sees no major operations planned for Cardiff for the next 12 months...but also glad that they're going to take the time it takes to get the best plan in place before throwing more money at this very deep, difficult but potentially game-changing well. 5) Sounds like CRD's time in TAO's hierarchy of subsidiaries is limited. I didn't have a problem with TAO's ownership of CRD if the power generation had been pursued (especially when Sidewinder natural gas contributed more to TAO's overall production, or when Cardiff and potentially Heatseeker might've boosted natural gas production significantly...but that has all changed, for now). I wouldn't have had a problem with CRD becoming an exploration or operating subsidiary in an oil + gas context (say the East Coast permits...or the offshore Kaheru and Canterbury permits). I did and do have a problem with CRD holding onto the Montana property while referring to it on their website as if it is currently operational, and acquiring the platinum mining permits on the South Island, all of the latter of which are about to be relinquished...the combination of which contributed almost $1m in losses to CRD's annual financials and, in the Montana operation's case, is costing CRD just under $60,000 per quarter when it is in maintenance mode. 6) I'm looking forward to seeing this new executive and operations team get and keep costs down, improve reserves and production on existing permits, and strategically explore and develop TAO's permits that are not yet even in the exploration stage...in other words, we've got a whole new team in place, with some solid operational experience that (IMHO) significantly elevates the pedigree of TAO management in comparison to previous iterations...let's see what they can do. 7) Finally, I'm also interested in seeing what this new team can do in terms of opportunistic acquisitions in this low oil price environment...and happy to hear them preach fiscal responsibility (no "significant dilution event" in Toby Pierce's words) in their pursuit of accretive AustralAsia production assets. Let's keep the balance sheet pristine, boys, as we grow TAO both through the drill bit and through acquisition. And...no more cockups! I guess that the next news we can expect from TAO, aside from any surprise acquisition announcements, will be the Financials for 1QF2016, which just ended today. Based on previous years, those Financials should be released mid-August. In the interim, I plan on enjoying this summer so, while I'm still long TAO and will periodically check in to see what's happening here, I don't expect to post much on the board. GLTA