Ann: Appendix 3B , page-20

Biggles

I have to say why wouldn't you buy?

Who cares about the development of WL, there is a confirmed reserve P1 of 1.94 MMBO net to Nido @ $20 per B in ground thats worth $ 40 mill, so even if they don't have the money to develope they can sell the asset,

2200 BOPD from Galoc with 94% up time that's 343 days or
$ 80 mill in income almost 3.57 cents per share per annum, positive cash flow of $ 40 mill +

Then they have Galoc North, Barangatan, Indonesia and others

With a MC of just $ 60 mill it is easy to see this is undervalued with plenty of upside from here, should be closer to 7 cents than 3 right now.

This is very similar to when they drilled Gindara back in 2011, started around 9c and went as high as 18c, a few more shares on issue this time but I would say closer to 6c soon and will go to around 9 to 11 on drilling IMHO, that wouldn't be a bad profit in around 6 months.

Got a few more today.

Sorry to see you go Iceman, but one needs to take a stand now and again and you might just do better else where, best of luck.