Ann: VEN: Vali-3 Update, page-21

The gas prices on the East coast have just had a massive winter spike .
Might make it easier to get your # 5 , hopefully with a #6 attached , a pre delivery payment .

I too would like to see Cervantes slip well back into 2022 if it could be done .
However if that cannot be done then we have to do what ever to participate in that well .

Two reasons
Even if all the Valli and Odin information comes in and the Announcements #1 , 2, 3 and maybe even 4 and 5 push the share price so that the 4 cent options are well in the money , MEL will not see that money until the start of 2022 .

The second reason is that although imo the risked value of Cervantes is such that we have to partake in the drilling of Cervantes , the most likely result as others have pointed out is a disappointment .
We are having a great run at the moment but we do not need another disappointment until after your #4 and #5 are done.

If possible I would like to see them drill Kinta before Cervates but again not before the #4 and #5 and the 4 cent options had run their course .
Kinta should have a good COS based on the Santos discovery and what we have found at V and O .
More reserves and higher production might give us a better GSA and higher revenue after start up .
5 well start up , whoopy doo .