Ann: APPOINTMENT OF PETER MANGANO AS A DIRECTOR, page-12

From the announcement it is quite clear that they have taken him onboard to assist with funding the development of the gad field - whether a JV, farm in, or combination. An excellent move IMO.

ANNOUNCEMENT SAYS IT ALL:
"Mr Mangano is highly regarded and respected in the Investment and Fund Management sector and has worked as a Fund Manager, Resource Analyst and Corporate Advisor over the last 30 years working in the resources and energy sectors.

He currently is a director of Contango Capital and previously spent 6 years at Colonial First State. Prior to CFS, Mr. Peter Mangano spent 12 years at Citigroup, including 6 years as a Managing Director and Deputy Head of US Equity Research in New York.

Peter Mangano commented: “Real Energy’s Windorah Gas Project in the Cooper Basin is without doubt a large gas field with considerable upside value. Recent exploration results confirm this. I am looking forward to working with the Board and management team to unlock the project’s value, attract the right project development and funding partners and deliver first gas.” "