Freemason there is no drilling planned - so Horn is now the same as CHAR and FOGL - big prospects - able to drill - but none planned. Also no more mention of seismics in the first half of 2013.
 
FOGL and CHAR are below cash - so why not Horn too ?? ;
 
Investors will know very well that Cash balances account for nothing in today’s markets and investors should not pin their hopes on 100% cash valuations.