krisenergy's announcement, page-5

Dear jayhotcopper,

My take is that the company was hopeful for more than a result which helped complete the picture. They were after commerciality plus information to complete the picture.

One must recall that Block 120 has always been stated as the higher risk block between Block 105 and Block 120. The criticism between KrisEnergy's and Neon's announcement are baseless. The simple fact is that the Australian market is full of many small players who are ignorant. I think it is arguable the shareprice ought to go down say 5c, but the bigger picture has been ignored completely, and mistakenly too.

No one knows more than it isn't commercial. What have the JV learnt is the question that needs answering, not simply 'is it commercial?' The ignorance I mentioned above is exemplified in the short term profit seeking many new members seem to be after. That is the reality of the situation. The market seems to have written off the further work needed on the Block as either doomed to fail or a false hope.

This is why I say a 5c drop may have been more realistic about what the announcement proved. There is 2 leads that warrant exploration straight off. I know I am a long term perspective holder, but there is so much to be done that whilst today is frustrating (and costly as it were), I am still bullish on Block 105 and the general future of the company.

Many don't care for the company's prospects next week, next month or next year. I do and whilst frustrated I am hopeful. I can't control the price, I can't control the view it takes or the reasoning adopted, I can only constantly reassess my position. My position as to a positive future hasn't changed although sadly my financial position has!

Given the COS was higher at the site selected and the lack of commerciality, what the company has learnt from the drilling is the question and I have no doubt the JV will be seeking to answer that ASAP to inform future decisions. To my thinking the market has been too savage, I hope my view rewards me soon! However, the price is the price and whether it is an accurate reflection of value or not, positive news re Block 105 will be a company maker.

GLTA