we have a announcement, page-12

Yep. A cool 1M worth of hard earned shareholder cash has gone out the door in the past 12 months and we still await a drill plan. So Betrade you're bang on.

I've now read the report for a third time and my assessment isn't improving.

Some of the key outtakes are listed below >

• I'm assuming that additional seismic data was only made available upon purchase of the land and this new data indicates targets that maybe more prospective than Prabu-1 hence why there has been no prior mention of the wild North West previously.



• One of the big sell points re Prabu was the ease of access indicating an all weather target. There is no mention of logistical access to the new target(s) in the NW.



• All management option/performance targets are June 2016... Current cash in bank will not last that long so a revenue stream needs to be generated prior (insert multiple options here inclusive of a CR).



• Salary expenses exceeded 1M. Although due to various resignations mid year next year's projection comes in slightly lower at 766k if my calculations are correct.

And then some questions targeted at our management team who I am sure read this forum and hopefully take the feedback seriously as they're not busy responding to email comms...

1. Looking back through the previous releases at no point was there any mention of potential undermining anomalies with the Prabu-1 seismic data so where has this suddenly come from?



2. Is the director indemnity standard for junior explorers? Reads like a get out of jail free card if someone decides to move to the Caymans with the company bank account.



3. 2.6M cash in the bank. Gives us three years, excluding exploration costs, at current salary burn rate. So what's the plan guys to avoid another CR?



4. The non-current assets make the balance sheet look rosy. If I'm reading it right it is revenue that Quest is projecting to make over a per-determined term. Alas I'm no accountant but where is this figure plucked from?



5. Prabu-1 has been sold as a solid target, something that this update undermines, that aside can the NW not be explored in parallel to the first phase of the drilling program commencing at Prabu? Or is the hot of the press intel such that Prabu is now fully on the back-burner?



6. Have Moyes come on board and assessed Prabu in light of the new seismic and driven this change of tact? Furthermore exactly what are Moyes up to as they were sold as a PR machine that would ignite a spark under the QPN barrel... If that's the case then exactly what are they up to?



7. If we did drill Prabu, or anything for that matter, how long would this take to activate and at what cost? Impossible to know the full commercial picture without some exploration cost estimates that QPN surely must have.



8. And given the amount of cash taken from shareholders post the last CR can our CEO look himself in the mirror and be content that the level and consistency of communications from QPN is satisfactory? And that's before any mention of the current cash burn rate vs progress.

To draw a very tenuous parallel the only other spec I hold significant interest recently released a Managing Directors statement that clearly outlined timeframes, cost implications, sovereign risk and business related challenges faced by the company (I believe in part due to pressure from HC members). This was a very frank admission that was very well received. It also showed clear leadership and a willingness to ensure that the full picture was presented to alleviate any concerns around capital burn etc.

In summary this report reads like we're going around in an expensive circle (albeit a prudent one - if there is such a thing!).

Anthony I'd like to know how you respond to this feedback - a letter to your shareholders outlining your vision for the company would go someway to restoring confidence for holders who have watched the SP sh1t itself over the past 6 months.

I think the quarter of a mill you've received over the past year justifies this request...

Again interested in others views and hopefully above comes across as constructive and more than happy to be shot down as the more discussion around the current state of affairs can only be of benefit to holders.