Ann: Quarterly Report and Appendix 5B, page-21

Hi Cone have been weaning myself off posting .

Too time consuming and addictive , probably stop completely soon .

There is a problem of losing your scepticism on businesses that you post positively about .

We have seen what a drop in production did to their cash flow margin in the last quarter .

A successful program of workovers could do the opposite and fund growth .

However TEG has to spend the money for the program first .

The $2 million to pay WBE is due shortly and probably can be met from available cash and drawing down the unused amount on the Tamarind loan but that would leave them skint .

I share your sentiment about Tamarind .

They could be playing the long game in the basin .

As I have said before how they handle TEG's paper is a test of character for the BOD .

gltah