34c short term target, page-6

In regards to the Odin legal case, from the Annual report:

"The Consolidated Entity has disclosed a contingent liability in relation to an ongoing legal dispute (Note 24). Management have made certain estimates and assumptions in relation to the cost of these proceedings (Note 14), the recoverability of monies owed by the plaintiff (Note 7) and the likelihood of success....

In November 2008 Odin Energy Limited (Odin) purported to have terminated the Spinel Block Farmin Agreement with the Company and launched legal proceedings to recover $4.5 million from Blue Energy which Odin had contributed to the joint venture, plus interest and costs. Blue Energy is confident of defending the proceedings and therefore has not recognised a liability at 30 June 2011."