Ann: 3D Oil Corporate Presentation , page-5

oil production has always been a long term possibility for 3d.

where the management have let shareholders down is by the stubborn refusal to generate activity the way all other small oil leaseholders do--as in no deals from listing until now.

this deal--i can see no financial penalty if the other prty walks,or extends the time out.

i accept they intend to go through with the deal, but they have been given a half year free option to shop the leases around the world and try to get some value before they cough up a cent.

second time 3d management have given a free option to a partner in the hope money shows up eventually.

noel said west seahorse wouldnt worry him if it took 10 years. now 3d are no longer operator,i will let my last few go. i had hoped management change would bring new life to 3d,but now it is a real lifestyle company,as in they have no leases,and no activity,just an interest in one lease managed by others.no negotiating power at all,just pay up or sell down is the only decision they have to make.and how do they raise any more money?.