Ann: Change of Director's Interest Notice - Scott Brown, page-11

Hi Tully, I'd be interested to hear his reply to your question also. It is possible SB saw value in this transaction.....sell OA's @ 1.8c and pay an extra 6c "conversion rate" on market, rather than paying the full 12c plus 1.8c he wouldn't recieve from converting off market (if this makes sense?)......so in effect could be seen as him having confidence of upcoming results??? I'm as sceptical as the next guy and you all know my thoughts on recent/previous actions of the company, I'm sure SB is well aware of how the SP has been affected due to the sentiment it created......results to date have exceeded my expectations and are in line with modelling. OA's were always higher risk due to timing and hence the reason i decided to sell mine to purchase the OB's instead, perhaps SB was just doing some risk adjustment (FPO's are only 5c more than the OB's anyway) considering the overall market atm, as even positive results might not lift the SP significantly until the wells can be tied into production.

IMO, it's not to be taken as a negative.....quite possible it's the opposite, as @Al99 commented on the last update we're on track for a positive outcome, however in this game it takes time to realise the true potential/value and nothing is ever certain or smooth sailing.

Merry Xmas and hopefully an excellent new year to all.