Ann: 2024 AGM Chairman Address and Company Presentation, page-101

Strange. I though the gamble was the previous 3 years, the joint venture spending $100m plus on 3 exploration wells with the hope of finding oil.

Now May certified reserves and will be producing from one well in 4 weeks and another 2 in Feb 2025 (relatively quick drills) - anticipated $39m profit 2024/2026.

With off take funding to fund further production wells, 3D, back into Alameda 3 (2026) - SP was above 2.6cents before any oil was found, seems to be a lot better "GAMBLE" now than 3 years ago (despite the huge 10m sell-down yesterday).