$0.050 party, page-249

Quanyum.

In your replies to some of the posters questioning your enthusiasm, I draw your attention to the report, which I have read, released by ROG -

• completed a petrophysical analysis in the southeast tenement of its Killanoola Oil Project.
• analysis identified 16 metres of net pay at the prospect, marking a stark increase on the 1.5 metres originally estimated.
• explorer says the evaluation indicates a strong outlook for significant reserve growth at the tenement.
• based on this find, Red Sky is now working to re-determine the volume of oil in place and potentially associated reserves.

ROG clearly indicates the analysis is an evaluation and not a proven declaration of reserves. Until such time as the evaluation progresses to a proven declaration of the volume of oil in place and potentially associated reserves, ROG remains a speculative buy.