Ann: AGM Presentation , page-2

I have just read the presentation and in my view slide 16 wraps up the concerns being flagged by so many shareholders. Slide 16 is supposed to ouline the company's objectives and visions for the rest of the year but the language is so limp...

Firstly they title the slide "2012 Outlook".....why not "2012 OBJECTIVES"??

Then look at the "outlook" points...

1) "Progessing" Galoc - where is the word "Achieve" and with a date?
2) "Assessing" West Linapacan - where is the word "Achieve" and with a date?
3) "Refreshing" farm out data - what does that mean? Where is the commitment to "achieve" a farm out and a date to do so?
4) "Reviewing" funding - where is the commitment to "achieve" a better and more appropriate funding arrangement? When will the "reviewing" cease and be replaced by action/
5) "Implementing" a commercial focus - what sort of objective is this? What do they expect to "achieve" by a rigorous review? Would have thought any company worth its salt would already have a commercial focus?

What worries me here is the lack of quantitative and measurable objectives being set. If the company is not prepared to challenge itself then we shareholders are in for a very long wait!

All just my opinion

Cheers