firm finish, page-10

Dear jayhotcopper,

It appears the range is between 6c-6.5c. There are 9 million shares on offer between 6.2c-7c so a bit of traffic in the way.

A good report re progress at NSA will be welcome so as to possibly increase the prospects of a revenue increase this quarter. Further, Glau drilling will be welcome as it may lead to further drilling and another income stream.

It will be slow going on the shareprice front but it appears management will continue the same farm down method as in Vietnam at Tanjung Aru which will mean little dilution.

The prices drivers may not be massive but progress in CA will help with sentiment as Tanjung Aru seismic gathering and interpretation will likely be months away.

The big overhang is the cash position of the company. I believe the company will have to farm down more equity to get another well drilled on either Block 105 or 120 after the over run has been paid. I am still hopeful in Vietnam but we will likely be a small player sadly.

If Paloma can be unraveled that would be very welcomed, again either as another income stream or sell off.

There are price drivers there, but nothing that appears immediate or great. Hopefully, the Quarterly due within a week will give us more of an insight as to what the next 3-6 months hold, and thus we gain a good guide as to price drivers.

nil carborundum illegitimi