new gang in charge, page-6

I reckon? NO...JPR admit to it - after the FACT!

Its not a breach of listing rules, as it was always in their "deal" with Biskra. Only shareholders werent told. Perhaps not a material amount? JPR are careful with words. They gave the impression Biskra were paid in FULL at 6.5c

Please see "full year stat report - 29/9/2010" Page 52

"On 16 September 2010 the obligation to Biskra was settled in full."

"The Biskra payable related to the success fee for the extension of Block 31 of US $3,500,000 payable to Biskra Holdings Limited. During the year US$1,525,000 was paid to Biskra holdings, leaving a balance of US$1,975,000. On 18 May 2010, it was agreed to settle the remaining debt by the following:

- US$320,000 cash; and
- US$1,655,000 in shares being 28,292,769 ordinary shares in the Company at a deemed price of A$0.065.

Under the agreement if the proceeds from the sale of all 28,292,769 shares sum to less than US$1,475,000, the Company
shall have an obligation to compensate Biskra for the shortfall. As at 30 June 2010, the Company has recorded a payable of A$732,369 based on the closing share price at 30 June 2010 of A$0.034.As at 16 September 2010 the obligation to Biskra had been settled in full."