Ann: 2010 AGM Presentation , page-18

Just sat down after the AGM----work and a dinner intervened.

I want to advise all ESG shareholders that if the fortunes of our company reflect the character of the HC representatives at the AGM today then we will be more than millionaires.

We have very good shareholders and in general sense we are a good match for our board.

At the end of the day I think we have a good Chair and MD and I'm prepared to take their word on the the quality of our board. Nothing from today causes me to think that we are invested in a company which legitimises questions about the divergence of our intersts; even where delivery has been somewhat delayed.

My overall feeling form today is that we have a world class resouce and we as shareholders will achieve full value for our investment although the exact means of achieving that is somewhat vague. However the value of PEL 238 X 5 (to incluce our PELS which are not yet in the equation) sets a minimum benchmark of which our management team is aware and for which they are capable of obtaining value. I'm a buyer.

Finally, thank you to the fellow shareholders I met today. You shared information and listened without exception. What a functional group !!!!!!!!!!!! It was my son's first AGM&I could not have wanted a better introduction. He is also impressed. Thank you all.