$2,000,000, page-3

Dreamer & Rizzla,

Maybe he has had a fantastic job offer from a mid-tier or Major O & G company who are impressed with his PVD history.

PVD paid $4 million for Mazagan in 2012, worked it up with new 3D seismic, identified & evaluated multiple large prospects, salt structures etc... & got a Major to take notice & front up with a $215 million, two well, farm-in.

Must look good on his CV.

Then we can add Nkembe in Gabon (ground zero for pre-salt analogues to Brazil) & in a producing country with Total doing exactly that next door) & Major O & G companies all around us again. 35 companies or more been through the data room with a farm-out deal to be finalised soon.

He has a previous history in GOM & must be well connected in the Global O & G industry.

So, I wish him well in his future endeavours.

As far as his financial interests in PVD are concerned?

Well has has lots of fully paid shares (as directors usually do) & can do what he wants with them.

However, his large amount of options must now be exercised at 40 cents within 28 days rather than in 2016 had he remained an employee. So unless the share price is going to be somewhere north of 40 cents within the next 4 weks then they will most likely expire.

The point being that his departure appears likely to be adverse to his immediate financial interests in PVD but are obviously outweighed by whatever new interest or job offer he is going to!

Why the criticism of the man or the company just because a director is moving on to something new??