Ann: Quarterly Activities Report, page-18

"Exactly what we were asking for Whiskey......."

Exactly Mandurah what a fantastic quarterly confirming what I expected and even came with a very pleasant bonus although we had hints of it.

1: We are cashed up for most if not all the upper shelf appraisal program.

2: We will be going full on with SNE as a p
riority and it appears FAN will be dealt with second.

3: The other projects are delayed but still in play except in the case of Australia .

4: Confirms an expected late 2015 start for the appraisal program it really coldn't have been much earlier.

5: Confirms what a lot of us already knew, that testing is still ongoing and will be released when ready and that could be at any time

6: Informs us that it will be late April before the appraisal program is likely ready to be updated so no supprise there.

7: And the most important and exciting part for me is it confirms the whispering regarding well costs. This has blown me away they are talking $30-40 Mil which is a huge reduction and very good news for FAR.

I think it has put to rest anyone who was thinking these projects were going to be announced as commercial before appraisal, that could never be the case.

It also puts to rest anyone who thinks the JV is a loose ship, the mention of the $30-40 Mil wells came from an investors briefing not from loose lips and its a pity whoever "whispered" that didn't just say so.

It also puts to rest speculation around selldowns or TO's, they can always happen but don't expect advanced warning .

It also re-affirms what most investors in the O@G space know and that is it takes time and is really a longterm hold the updates will be limited untill drilling starts again.

Couldn't be happier ...

Cheers Whisky