Ann: September 2013 Quarterly Report , page-9

Re the high impact wells I note that WS 616 is now in production, but no report on Zivley 161. They've previously classified WS 120, 124, 133, 134 all as high impact producers in the 50-75 bopd IP range. You would think since they made a big deal of the high impact program earlier that they would promote this program if it was delivering good results. Also no news on further GS JV wells - why not?

The good news is that production rates are increasing as per the production updates when they've released them, but they are leaving out key information that would be beneficial to SP if the news were positive (and vice versa if not).

My opinion on why the company is getting selective on wells put into production is that they realise the wells are high maintenance (imo the wells have a high downtime rate, hence the extra workover rigs and the lumpy production profile).

After further digesting today's report I am still of the view it is disappointing - yes production is increasing and cash burn is slowing - but this was a prime opportunity to report on and promote information we have been waiting for months for, and they have missed the mark (for me).

Cheers, Sharks.