Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-42

we’re unlikely to go drilling this year (70/30 )

and even if we do we won’t have enough money (not enough to have a good chance to make a discovery}

and even if had the money the probability of making a discovery are minimal {depends on the money, if $30m or so then a chance }

- some kind of black swan event ? {very unlikely}

- leadership change {no chance}

- legal dispute {likely there will be referrals to mediation and legals over land access, possible infringements of strict requirements etc but these won't stop the project although they will slow it down}.