Bottom of the Barrel Valuation, page-106

As you are aware I have not been supportive of SN leadership since the Board changed strategy away from project Haber.

If you watched the quarterly webcast SN stated that he had not even sat down with his petrophysical team to discuss the drilling results. I thought that was very strange given he is the CEO in charge of the youngest resource team in the industry and obviously needing a focussed leader on top of everything.

Stu has been found out of his depth in the last week. His commercial experience and expertise in the Oil & Gas operations is very light on. I raised this before and got attacked by the fan club who apparently have gone into hiding.

The Board needs to do something as the communication of the results has caused significant losses for shareholders. Yesterday’s half pager was approved by the CEO and rushed out in the morning. Having read the notice again several times, things may not be as bad as first thought. I hope so.