gm today in brisbane, page-4

Was at meeting today, so happy to pass on observations other than what is already described in the Presentation.

For option holders management is well tuned into the significance of June 08,and of course for the company it provides a good opportunity for extra cash to flow into the bank account. Don't expect an announcement tomorrow but do expect plenty of news before 30 June.Lots of drilling starting and completing before then. The hold up with Turner has been waiting on the normal processing of obtaining drill permits from local authorities.

The fundamentals of the company are rock solid, income streams increasing, no debt, adequate funds available to meet drilling expectations, diverse targets, and room for expansion.

For short term investors (which I am not) I guess now is a good time to press the buy button, due to the wishes of management to increase SP before 30 June. For long term investors there is also a lot of upside post 30 June, so hold, what the company is seeking is to attract new investors via institutions etc.

My personal estimate of the share price as at 30 June 2008 would be between 45-60 cents, given a normal success rate of drilling and the market roughly staying where it is now,sorry no guarantees in share investing.

Hope this is of some interest.. An AGM is planned in late April
Cheers Middy