Ann: Armstrong Ellislie Number 1 update , page-21

I have a mate who just got back from the North East of SA and said that the area has dried up. Trucks could easily move into position. IMO the rig is an issue. They're tip towing around the fact. Armstrong will see the SP rise but not as you all think. We need an announcement on PEL105 before the market has a correction. It will do not be naive. It's getting top heavy at the moment; any site of bad news would make the last 18 months look like a white Christmas.


TW