Ann: Farmout To Fund Two New Sub-Salt Exploration Wells, page-28

we long ago entered into partnership with Santos where they were the dominant partner and we danced to their tune. Dukas had high pressure and showed traces of helium, Dukas and other areas like Mt Kitty also showed traces of Helium. So i am not sure that Santos thought it was a duster. They saw enough evidence to spend $20m on the drill, and did not walk away. Santos has had lots of other irons in the fire including a merger over the last couple of years.The most unfortunate thing about the Santos deal is that they moved at their pace not ours, this was a side venture for them but a company making deal for us. Dukas was not the priority for them that it is for CTP. They have sold down there share, and they could only have done that if they got a good price and had shown enough evidence to Peak that this has potential. The only land Peak have is the block next to Dukas where they look as if they intend to look for Helium, why are they looking for helium there, because we have the blocks next to them that have traces of helum. So we are now being carried for a couple more drills, and hopefully with Peak helping us to get Santos to march to our tune. It also makes sense that if we are getting a heavy drill in to finish Dukas that we would probably use that for any other Helium drills as well which would mean all would probably be drilled after one another. Then hopefully we can get Zevon moving. this year is about increasing our gas reserves, next year its about helium.