Ann: Chairman's Address to Shareholders, page-32

I think CZ has been extremely patient with what has happened at OIL. We have a multinational company who is dealing with and giving a small Australian company a go and OIL can not even get their s**t together to meet milestones. The only sabotaging of OIL has come from the failed and incompetent leaders we have had running and controlling our company. Mr Patrick O'Connor really needs to prove himself with some milestones being met, positive announcements, and some action on moving this company forward and delivering value to the shareholders. This needs to be done in relatively short time and we need consistent updates and proof of positive forward moving activities. I am sick of the current cycle of mismanagement and then when the directors run out of money to pay themselves without delivering they come to us with their hand out. I am starting to feel like centrelink. Patrick and Bruce (especially) need to be put on notice. Deliver or leave.