Ann: Letter to Option holders , page-5

Back from my ridiculous 7 day suspension for having a harmless joke with the good sailor. Special thanks to Admin. You silence was deafening.

Now to Business and news that I have had to sit on since Friday after talking to Adrien Wing.
I had plenty of questions to ask him, but please forgive me if it is not 100%. WHICH IT WOULD HAVE BEEN IF I COULD HAVE POSTED ON FRIDAY.;(

Question. What's happening with the pilot well.

Answer. It appears that our JV partners are the hold up. He sounded very frustrated as the two of them have been going head to head on the new CMB JV deal.

" We are hoping to have an announcement in the next week or so."
(They have a board meeting early next week.)

Question. "When are we going to see the Annvale results"

Answer.
Again this hold up is to do with the JV partners. (He sounded very frustrated)

Question. There was a very high ethane reading at Annvale. I know MEL believe that the Kingfisher field goes north.
Wouldn't this indict that the field looks to be south as well.

Answer. "It's good to talk to a Share holder that knows what is going on (Pat on the back.) Your spot on the money."

I nearly fell off my seat. Did he just confirm that kingfisher goes south into ROG's Annvale well?
Annvale was the whole reason in had a punt on ROG, so I was over the moon to hear this.

This lead me to my next question.

"You seem to be working closely with MEL. Wouldn't MEL want to lock up Annvale before someone else does, if it is part of the same field.

Answer. "MEL would move well before this would happen."

I asked if he know anything about a MEL JV. He made the comment the CSG was on the noise at the moment, and that you just had to look at the ESG deal.
I took from that, that MEL had an unexceptionable offer which is in line with what I thought the MEL C/R was about.

So.. My concussion from all this.

1/ JV's are now very interested in maximizing their share and are the ones holding things up.

2/ Most importantly for me, Annvale looks to be part of Kingfisher. Hopefully an announcement via the ASX will confirm this.

3/MEL at some stage will be our J'V partner.

4/MEL got a low ball offer, and told them to be on their bike.

5/ We should hear some thing very soon on all of this.

This is my concussions from the conversation. Please make up your own minds on this, and invite you to ring and have a chat. He was very open. Ph 03 96140600.

Cheers and I hope this helps.

Yes, I am the one M16 warned about. lol.