annual report, page-23

Yaq,

I can help with that..

ESG NOW: "Insufficient new exploration and production data were gathered during the course of the year to warrant a review."

The above refers to Tintsfield ONLY.

ESG THEN: - "The Outstanding performance of the Bibblewindi pilots, along with the 2010 corehole and seismic programmes, will result in strong reserve additions."

This refers to the Bibblewindi pilots. I believe there is a Bibblewindi west and Bibblewindi and from what I can understand, there should be a strong reserve addition on the back of these special pumps they were waiting ages for government approvals for.

Hence my position, there will be a reserves upgrade in the IER IMO.

There is an issue with more coreholes which were unable to be drilled due to government approval issues (wasteful red tape - we should all send INVOICES to Drew Hutton!), not sure where those holes relate to which pilot though or if in fact that would make any difference to what has already been announced... i.e "2009 corehole drills" are well and truly past tense.