Ann: Amadeus to Moomba Gas Pipeline, page-28

I think all long term holders can relate to the mismanagement, failure of the company to deliver from different CEO's. Each has had their own dream of where to take this company. I finally believe we are now starting to make progress. Yes, our share price is down, surprisingly low considering we have a solid income stream and potential for growth. I personally put that down to someone trying to keep the price down, but that is me. We have significant upside if Dukas and others come true, I would be amazed if someone is not looking to have a crack at us once we start to show proof of our potential. We have multiple prospects that we will hopefully start drilling next year before Dukas is drilled. Dukas does not have to be huge if it has helium to be profitable. After Dukas, the rig will move to drill EP115/zevon which could potentially be bigger than Dukas, more gas and who knows maybe more helium. Finding gas is fantastic, having a way to get it to market quickly is critical in monetising the asset. The potential new pipeline is exactly what we need and really around the time we actually need it.

I still wonder what Macquaries strategy is going forward, they had a crack at us once. and probably still hold a lot of shares, both directly and through friends. They are our partners in a couple of small fields, I cannot believe that is the end of Macquarie's ambition in this area. this is not their core business I would think they would either grow it or sell it.