C17 or bust (maybe), page-116

I understand your concerns and they are similar concerns held by many shareholders. There have been delays to getting the Atzam 5 well completed and on production, and unfortunately 2 of the 3 primary targets for the well did not produce as we had hoped for (C18 and C19).

The reality is the company has been underfunded for quite a while and we took the decision to finance following a clear result from the well. The lack of this to date combined with the delay in the timing has left us with some unhappy shs who have been selling in volume in recent weeks.

Having said that we do have a producing well of 170 bopd for over 12 months, and a second well that is only partially tested and still a very good chance to be a commercial well.

I have tried to answer the rest of your queries below.

If the well had of flowed at 500bopd from the C18 or C19 in A5, none of us would be having this conversation right now. That is the fact of the matter, but we all understand the risk in the exploration game.

Regards, Brett

I recieved this on Tuesday, asked some more questions and was reffered to PL