Ann: Notice of General Meeting/Proxy Form, page-65

Assailed,

I've mentioned here a few times I altered my leverage in pep11 towards bph, buy and Buyo.

Circumstances are different now, to what they were months ago for bphob.

The only game now on bphob will be re issue or not.

I choose not to play that game, as Buyo is a direct swap, nearly same profit leverage and already has over 12 months till expiry.

One needs to recognise danger and mitigate. I removed danger and still get the same benefit if pep11 approved.

I believe it will be, nsw has no defense for sitting on pep11 decision.

They decide state matters, so it was none of there business to interfere with a federal decision.

They had a duty to move it on, whilst federal had a duty knowing the state was holding up a federal matter to act.

The opggs legislation is flawed if works are in federal waters only with state input.

The legislation is designed if state and federal waters are covered in the same application.