Ann: West Erregulla Update, page-17

What are the odds of a bid for the company at around these levels plus 30-40%??

Given a thick intersection of dry gas at the Wagina Sandstones, the known Kingia/HC gas, and the large tenements held to the South, why would a potential suitor hold off any longer??

If anyone was interested in taking over the company, IMHO the time to 'strike' would be now before we prove up a lot more gas.

Apart from South Erregulla, the rest of the tenement EP 503 would have just gone up in valuation because the odds of finding gas in the Wagina Sandstones to the South East should have just increased, especially being shallower than Kingia/HC.

If someone was interested, then every new 'find' raises the price and lowers the risk of our Southern tenements being 'dusters'. Unless of course I've got this all wrong, but would like some comment from the O&G people about how this affects the odds of good gas down South please. @Ya @psi81 (or any other experts).