Ann: Zapato-1st Drilling Update and Option Expiry Reminder, page-261

I’m going to hold until production,that’s my timeframe.In retrospect I would be delighted if either well was in production, by years end, although the current well is being set up for production if successful. That would in my mind be long awaited development plans we have all been waiting for. You could just imagine if the May board announced that Alameda was being drilled straight after the Zap well is completed for production They would be hung, drawn and quartered by the shareholders if they discovered oil in large quantities in the current drill and left it there again. They would be rag dolled by many if they seemed to change there mind. So hence no announcement on development plans as such imho. 6-12 months for this little sleeper to become a monster. Refinery down the road,oil in the ground and cheap development costs and still being pip traded Sometimes looking straight ahead let’s you see what’s staring you in the face all along.Tick tock