Ann in PLAIN ENGLISH

OK I'm going to lay out how I've seen the SP played out last few weeks.

People that bought into 88E had the following expectations:

- Holy snot! the SP are low at 3.1c I'm going to buy in as it is undervalue and will make a fortune when announcement coming at the end of the month.
- SP hits 3.5 and people were thinking what's 88E cooking there
- SP hits 4 and people start thinking there's got be a farm out coming in
- SP hits 4.5 and people we thinking that guy is buying so I'm going to buy it too
- SP hits 5 and people starts to dream of Lamborghini
- SP hits 5.5 and people actually starting to order a Lamborghini
- SP hits 6.0 FOMO

Today's announcement (Preliminary 2D Seismic Result) - Explanation in plain english...

Sorry folks, we've been working flat-out analyzing the 3D seismic acquired in 2015 showing promising results but we can't release it yet until we completed our analysis with the 2D data we bought this year 2016. We will release the result in 5-8 weeks (this is my guess).

People's thought and action after announcement:

- SP 6 and the people were thinking the hell I have to wait another 5-8 weeks to find out about the result? I'm selling!
- SP 5.5 it dropped so quick that these guys couldn't cancel their Lamborghini order on time to come and sell their shares
- SP 5.0 I'll settle with a Toyota for now
- SP 4.5 DTT and STT queing up to scooping up the weak hands that got shaken off the tree as they knew the price will go back up in a few weeks time.

So in simple truth, the announcement were good. It was just a formal announcement to say we need more time to analyse and produce accurate information (unlike some village idiots on this forum throwing out missed informed figures around) before releasing it. But for now, here are our plans:

Activity Planned
• 2D processing and interpretation of 2D/3D extracts
• Assess conventional resource potential
• Farm-out Icewine#2 (if accretive)
• Spud Icewine #2 vertical well (with multi-stage stimulation) HRZ / HUE Production Test

So back to square one. We're still waiting for the 2D/3D interpretations. Those that have sold today will most likely regret selling as they will most certainly will need to pay higher in a few weeks time.

DYOR everything expressed here are IMO.