Ann: Application for Production Licence and Seism, page-10

re: Ann: Application for Production Licence a... In our current state a capital raising would mean issuing a few Million dollars of shares to pattersons, or some other sophisticated investor(s). who would immediately dump them on us. A few months later we would be back where we are looking for more capital. Use of OPM is a much better strategy, we have more land than we can ever drill lets make use of some of that to get others to do the work for us using their money, yes we need to share profits but that is better than this dilution by a thousand capital raisings. I expect CP has not gone away for nothing, there will be a deal there for the coal assets, just a matter of time.