Ann: East Pogo Drilling Update - 64North Project, page-22

Really disappointing given this was deemed by many of us here and management too, to the best part of the entire 64 North project.

They can talk all they want about a geothermal signature towards the end of one hole but the truth is this drilling program was another failure from a shareholder point of view. Especially disappointing because:

- they thought East Pogo was the best part of the 64 North project
- they spent a lot of time planning how to find a discovery on East Pogo and had resources (i.e. cash and time) to tackle it pretty much however they wanted
- they failed to find anything, not even match prior exploration holes.

I don't like how they keep finding nothing of value but want to keep exploring to see if there is anything else there. I am mostly out - holding a small parcel now in case there is a massively discounted cap raise for existing holders which I can try and claw some losses back on.