Ann: Appointment of CEO and Proposed SPP, page-13

Looks like we end up in a similar situation as when the 0.018 options were active but they get 2 million cash now and a potential 6million if the price goes above 0.013

MC would go to around 13M at 0.013 and add an extra million for each cent which is similar again if the 0.018 options made it to the money.

Moving to 51% buys CHK a year to negotiate or drill Horse Well 0.013 options would possibly be how they would go it alone if needed.

2 mill should be enough to get the gypsum off the ground and running.

New CEO will need to show he can walk the walk quickly as it looks like a step up for him. We need a deal maker who is also willing to be brave and go it alone if required.

https://utas.academia.edu/AndrewGraham/CurriculumVitae

Plus 21 million options for a 4K monthly drop in salary is a big no from me I’m afraid.