news from the operator!!, page-24

Hi Wasa

From the last QR is the statement:

5. NEW PROJECT DEVELOPMENT ? NW Europe
Update
Negotiations by the Operator were continuing at the end of the quarter with local government on the approval process of the well. A further extension to the end of July 2011 has been agreed between Sun Resources and the Operator to allow the Operator time to complete the well approval process with the local authorities which is an important condition precedent in the executed Term Sheet. Further details relating to this farm-in will be announced to the market following the receipt of necessary local government approvals and the execution of a definitive Farm-in Agreement.

So at July approaches I would expect to see some improving interest in SUR. At the moment many are no doubt locking in losses for the end of the Tax Year.

Cash on hand at 31 March 2011 was $6.59 million so we should not expect any CRs until well into H2/11.

Cheers

R1