agm, page-6

Recoop

They do get bonuses on hydrocarbons discoveries, whatever BPT finds for them in PEL92, that's the sad thing.

Hammamet West well in 2011-2012 which normally means 2013 so as far as I can see we have 17% cos Fuschia and 30% Menzel Horr. so they are happy to pay 12 million for a 17% target but are looking to farm out a 30% target that will cost less than 5 million of which the P50 Coe share is much higher.

I hate to say this but I am also thinking of lightening up as I really cant see this much higher based on little action next few months.

I also don't like the line that PEL92 drilling is due to lack of rig availability as MS told me it was due to BPT big company inertia.

If they wanted to seriously add value they could have bought their stock that was trading below cash, how stupid for not doing that, the more I think about it the angrier I get.

Another classic is the options line where the state options issued well above share price and the quote $1 options but fail to mention the 55 cent options that were granted at or in the money during the Kurnia lead up excitement.

They have attempted to answer questions that obviously many shareholders have raised but in my view have lost credibility in doing so.