Ann: Byron Corporate Update, page-25

Its actually far worse than that ggwill - the company is now giving combined production from all assets (SM#71 being F#1/2/3/4, SM#58 G#1/G#2 & SM#58 E#1) rather than breaking down the specific assets so the reduction in G#1/2 doesn't look so drastic in comparison.

The fact remains the company is now moving away from actively reporting actual production data as a specific point in time choosing to hide behind average production figures for the quarter.

Historically the company has been very transparent in its production data when there is good news to report - happily providing breakdown per well and overall contribution of each asset including actual production as of say quarter end. Since G#1/G#2 have hit production issues the March quarterly moved to averages and not stating actual production data as of the end of the quarter. The fact the announcement yesterday didn't breakdown specific wells suggests the trend of lower oil and gas throughout G#1/G#2 continues i suggest it was not hedging alone which caused the rift between potential funder and BYE but also clear poor production performance.

The reserves assumptions for SM#58 will need to be adjusted to reflect the substantially lower production of both oil and gas from these wells in the upcoming reserves report. Shareholders should be aware some large reductions in reserves will need to be highlighted noting ~40% 1P oil and 40% 1P Gas reserves (SM#58 contribution) are likely to be heavily downgraded which should feed through to lower 2P 7 3P reserve assumptions as well.