moving buy/sell, page-19

Received this from Peter 22 december in response to email inquiry from me .

I trust it is not confidential because there is no information that i am forwarding on that is inside knowledge only elaboration on what was already disclosed to public .

Therefore i cant see why Peter would object to me forwarding it to others .

On the contrary this will answer those who complain that Peter doesnt reply to shareholders questions .Like anyone else he deserves a holiday so it is understandable that he wouldnt respond from late december for short period thereon .

here is his reply to my email.

1. You need to remember that the Kockatea was a secondary target and the presence of oil was a bonus. I think what we said in the annual report was a pretty good clue, but we need to go through all of the processes to validate the source. The 3D seismic will assist as well as drilling further wells. The Kockatea oil will take some time but we will continue with the shale gas evaluation.

2. The plan is to seal the perforations in the Kockatea in January and then drill out the plug at the top of the Kockatea. This will cause no detriment to the project.

3. We will report the results of pressure monitoring in January after the well has been shut in for the extended period. As stated we will implement other means of testing the Kockatea by 3D seismic and drilling.
It is important to recognise that this is an active hydrocarbon field and there is quite a lot of offset data that may be drawn on to evaluate the oil potential of the "Kockatea"!

Regards

Peter