dls is really getting done-over, page-16

TR: - Your first point. This is taken from the Drillsearch site(see page 5 - http://www.drillsearch.com.au/LinkClick.aspx?fileticket=TELAWu%2bCMt8%3d&tabid=3383&mid=6093
"I announce that I hereby resign my position as the Executive Chairman of Drillsearch
Energy Limited and as a Director of that company.
I also hereby resign as President of the company’s Canadian subsidiary Circumpacific Energy Corporation."

He has not said he is resigning his directorship of CEU. This is a separate position to that of pres.

Point 2. This is a statement of claim as yet untested in court and I do not think we should be discussing it's detail, suffice to say it is the assertion of Drillsearch. This does not make it true and it remains just that, their claim nothing more.

TR you make a quantum leap from innocuous statements in a statement of claim to saying Simpson is "dishonest and a criminal". I do not see anything there to suggest that and lets face it, this claim has been lodged by a man who has lied about his corporate experience to get the Chairman's position. Hardly convincing.

As for being "Farouk's boy", this is what I thought when he was put forward for the board of DLS. As it turned out he was not and is not "Farouk's boy". I changed my opinion of Peter Simpson when I saw the remarkable job he did to pay down the $18.5m debt lumbered upon us by Kelso to help pay for his lavish tastes. He reigned in expenditure, he negotiated our way out of reparations for that disastrous foray of Kelso's Marina 1. That should have cost DLS princely amounts to relinquish. Instead the government let us off scot-free.

I have found Simpson to be absolutely honest, and morally proper when it came to business and running our company. Since coming to power, which is really the situation for McKerlie (power), he has been driven on a vexatious campaign to sully Simpson's name and reputation. For what purpose? Why? This is not professional behaviour.

McKerlie, Carty and Choo conspired as early as March to get rid of the then Drillsearch board. You have to ask why? Look at the register now and see the number of Malaysian and Singaporean entities listed. There is much, much more to this than you might imagine.

But to answer your questions TR, I don't think that proves anything.:)

Cheers

JE