unlisted employee options, page-13

Dear All,

It appears from the Cleansing Statement that 1,500,000 of the $0.20 options were exercised. None of the $0.40 options expiring on 6 Nov were exercised.

With the share price at $0.23 there is a great incentive to get the share price up. I am happy that there is a real incentive for this to occur. No one wants to see their hard earned, especially $300,000.00 turned into nothing, and we all want to see it turned into much more!!! Ordinarily, I think it is fair to say with options issued to staff and executives that the exercise price is often nowhere near the prevailing share price at the time of exercise. Currently, the shares are worth $345,000.00 (a 13% return at the current price).

I await some imminent guidance as to progress of the current testing, the interim 3D seismic books, the fixing of the NSA production issues and the rig procurement in Vietnam.