Josef Schachter Sonde Resources SOQ-T WATCH Sep 25, 2012

Very good new management. Sold off Trinidad assets and paid down debt. Also, sold off land, at a very good price, in the Duvernay area. Really rationalizing down to light oil and liquids rich natural gas in Western Canada. Biggest part of their land base is in south-eastern Alberta. Also, had a big discovery in Tunisia. Stock is in the doldrums because of a commitment to drill, trying to farm it out and bring in new partners and if they can’t meet their deadline they will have to write a cheque to the Tunisian government. If the government gives them an extension and they get their partner, it is a very big discovery and important to the company.