Ann: First Appraisal Well Update, page-378

News flow will begin drop in coming week or following and lead us into Appraisal come March

1. 12 months ago they called discovery

2. Well design could not cope with the pressure and oil began spilling out and flaring as seen below:



3. This created a delay in the appraisal of oil as a new well design was needed share price was at all time highs 19 cents

4. This delayed the appraisal of the largest amount of oil in more than a decade

5. It is now back on. A capital raise was done on the 14th of March last year and people were pilling in at 12 cents and oversubscribed capital raising.

6. The appraisal will put this north of 50 cents on 126 million barrels (100 percent ownership) of oil which management has indicated could be upto 5-10 times larger

7. Fair value before appraisal puts this back to all time highs