change of board, page-97

Cookie is correct, we need cash going forward so TPT can implement it's strategy....whatever they may be at this stage. I feel the old strategy went out with management and I think you will find that it didn't work in the current financial environment.

The new management has a new skills set and therefore automatically brings new options to the table.

Funds could be raised by capital raising, sale of assets, through farm-in, by taking a lower percentage with cash back. So for instance they farm out aussie assets retain 25% of aussie assets instead of 45% and farm-in hands them extra $30mil cash, cash raised through a JV agreeement on assets where TPT could be operator.

I also wonder if bringing EVe and Max to the board along with Brent and Margaret now gives TPT the option of being operator, where old board did not have these skills

So rather than a farm-in, it may be an option, to do a JV agreement whereby TPT operates and other parties pay cash to TPT to be part of this in return for a percentage. As we have seen through Genel there its lots of cash floating around willing to back the right people for high returns

So many options are now available so keep an open mind as to farm-in, it is not the only option that may be available now.

Personally I am not concerned about capital raisings, I think if it is done it will be via private equity and or insititions. Having a large investor on board who is willing to stick with the company for the long run will be good.

Reading about Africa over the last few days there appears to be a lot of opportunity. Companies are all going for the ball-burster type of assets and some good prospective acreage may be available to explore and develop mid-sized assets. Africa is deficient on energy in and around the industrial areas, communities and mining areas that will be coming on board in the future. This may be one of the strategies of management to develop these types of assets so gas can be supplied locally for energy needs.

I don't think new management are just going to be deal makers and sit back and let others do the work.