Ann: Annual Report to shareholders , page-5

I have been buying shares and to my mind I ahve a large holding. That does not make me a substantial holder.

As for not delivering what they promise - I read it as they have not delivered what they intended but we all know that SJ cannot develop until there are funds. The funds for SJ are to initially come from GRAM. GRAM cannot deliver the fund because they are awiting approval to take a 51 % share of CF. So the conclusion is that its not within ORDS control re SJ drilling. I too am disappointed in this and said so many weeks ago. Nerevertheless the LAOS progress has been nothing short of astonishing ! Well done to management on that front. Lets face it LAOS is the big potential earner for all of us