New Managing Director, page-48

Koozy, thanks for your comments.

Please correct me if I am wrong but HLX has interests in tenements covering an area in excess of 1500km2.

The recent drilling relates to the results of 13 holes out of the planned 29 hole program in the COBAR tenements only.

The Cobar tenements covers an area of 600km2, therefore can we say that the 29 hole program represents one hole in every 20km2 of area.

20km2 = 2000 Hectares

Also although the drill results were not impressive, is this not part of the mining game ?

Does the company and management team really deserve this sell down and fierce criticism?

What if the results were great ? I assume the share price would have gone north but what would be said about the management team ?