Ann: Performance Rights Plan Announcement , page-21

Section Leader, I was referring to the June 2013 report which indicated that we were producing 500 BOEPD. This report was produced in September last year.

Surely we are producing in excess of that figure as of todays date.

From Chairmans report:-

"The company embarked on a strategy coined Project 500 Squared, the objectives of which were to reduce annual nonexploration
costs by $500,000 p.a. and to produce 500 BOEPD".