Ann: Appendix 4C - quarterly, page-20

I take no pleasure from this and am not talking down a short position. Bulls need to spend a bit more time looking at what the company does and a bit less on what is said.
Zero price options stink. G&A is a multiple of production costs. Company will be back for a raise this quarter after a few bullish announcements on pipeline. I have no idea how good their product is - I expect few here do.
I agree that Defence and Middle East contracts take years not months. Defence in the 5 eyes generally pay their invoices on time. Certain middle eastern customers are notorious for not paying and renegotiating terms.