Ann: TTE 2013 Annual Report , page-27

Easy to forget with cash-flow concerns that TTE`s 18.5% of EPP455 is an asset not a liability.

AWE looks like it may spend nearly $20m on Drover alone (see link below) and must be tempted to take 100% of the permit.

http://www.awexp.com.au/IRM/Company/ShowPage.aspx/PDFs/2910-97658172/DroverExplorationWellFactSheet.

As Fitza has highlighted before this and other tradeable interests where the Company has bought wisely give them a flexibility which is not reflected in the SP.

So far from doom and gloom but TTE is dead in the water atm with no ann on the caprock (which is overall a sideshow) and the prospect of only Sodbuster and Drover until mid 2014.

Really need to sell something to give them the cash to drill the exciting portfolio that they have built in the States but understandably trying to cling on to what could be Company-makers in the Perth Basin.

Would welcome some information and indications from Management as the lack of news and strategy has led to a serious drift in the SP. Know they are busy on operations but attention to the Corporate side is important to the health of the Company.