Ann: Investor Presentation, page-9

All of a sudden the math looks even more compelling for a large part of the conventional plays.

1.5b @ 5$ pb =6b$ yes, this could be plus or minus depending on how far the deviation is from ''mean price'' with close to 6 billion shares we are looking at 1$ per share= 75p.

All without HRZ shale or the value of Nanahsuk and Yukon conventional leads.

Dw a big thank you from me for not focusing all our eggs in the one shale basket.

For those who think that our finances are too tight, you could be right, and would be right, if we cannot get a farm out agreed this year for one conventional drill for 2019. This is the next key stage..if the art of the deal is successful then finances are no longer an issue. 'Back costs' will be part of the upfront payment plus a premium to cover one drill for multiple high value 3D leads. The Q4 options would then be converted. Finances would no longer be a problem and would make 2019 a most exciting year.

On going conventional drills would be less problematic for a farm out in the western plays.