Todays conference call, page-38

Personally, I was very happy with the investor conference call and it has cemented my belief that after all these years of disappointing commercial progress in relation to a formidable technology that I identified way back in 2010, finally.... finally.... FINALLY ... we have a capable team at the helm to make the necessary transformation. The point was aptly made by Steve Schapera, but I will reiterate it. The new commercial driving team - Steven, Tony, and Cameron - has effectively only been in control of the company for 4 months (when Tony assumed Chair, and Cameron came on board shortly thereafter) . I'm really not quite sure what people expect them to have achieved in that short time. It seems clear to me that a lot of the expressions of grief and disappointment on HC largely stem from the corporate history of the company. The "holy trinity", as I have previously described them, have only now begun to pick up the pieces of poor management decisions from OBJ's history. If we look at Cameron's, Steve's and Tony's own personal commercial successes of times gone by, I have every confidence that they will transform OBJ company into the blazing commercial success that long-termers had hoped would occur years ago. Everything each of them said yesterday is consistent with this view point. They don't overstate things. But I did pick up the excitement in all three new directors' voices, and some of their comments, that they certainly believe they will be transforming the company into some great in the very near future. These guys will make it happen. Many of us were clearly mistaken that the old Board was capable of making the necessary transformation. But now that has changed. Give the new team time. 6 months from now it will be very clear to all concerned that the company will be a significantly better position.

Just my opinion, of course.

J