spp option, page-6

From yesterday's announcement . . .

Prospectus Dispatch Date (est.) 5 April 2007.

SSPP closing date is 27 April 2007 or on receipt of $8m, whichever is first.

The SSPP is capped at $8 million. If the SSPP is oversubscribed, entitlements will be determined on a pro rata basis and the balance of subscription money will be returned to shareholders.

So it looks like it is first in, first served.

Assuming the share price holds at around 26c and above and you believe (as I do) that the price will be going higher over the coming months (particularly with more news imminent - Falcon results due any day IMHO), existing shareholders would be mad not to take up the SSPP.

Buy 23,500 shares @ 21c which are immediately valued at 26c or higher - equals a minimum of $1,175 or 23.8% gain for participating. In fact buy a small parcel of shares ($500) in your partners name before Friday 30 March and your partenr can participate in the SSPP and get another gain of $1,175. Makes good sense to me.

Fiery.