rig availability, page-48

Hi Nooks

Strategy is the main thing IMO. NSE management is strategically very successful. (That's what I am good at, I think. And that's why I am in NSE). I think some other people knew the Canning Basin better than Eric at that time, or he didin't have the opportunity to grab the most prospective land (Kidson) that he couldn't get all those land. Eric actually made big fight and has been very succesful in grabbing a very big portion of Canning basin land much later in very hard conditions. I respect him very much for what he did so far. I regret that I didn't by Buru 3 years ago, would made 10 fold profit, would sell it now and buy in NSE.

Sam Willis and others (Not sure who started NSE privately in 1995) grabbed this huge land even before anyone else. They refined the area and mainly kept the Kidson sub-basin where the wet-gas window is located. That's a big success, and it will be understood when the discovery is made soon.

You can see this on NSE's web site at "History" section.

"New Standard Energy (NSE) was formed in 1995 to establish a portfolio of oil and gas exploration assets in the onshore Canning Basin at which time a Special Prospecting Authority (SPA) with an acreage option was taken out over a substantial portion of the most geologically prospective parts of the Canning Basin. The acreage area was further refined following desktop analysis to focus primarily on the sub-salt petroleum system in the Kidson Sub-Basin of the Canning."

Yes, Buru holds 18m NSE shares and they should be very happy about it. That will have a very big finance source when NSE has made the discovery and have a high sp, Buru will some NSE shares for financing their operations, exactly same with what NSE did by selling Buru shares.