Ann: Change in substantial holding, page-2

Another positive - our bedrock investor Wellington's last 2 Announcements December and now January.

With so much great news about you'd have to ask why.
Perhaps a phone call to Investor Relations could calm the nerves.
I might go something like.

"Big Funds re balance all the time - they are constantly moving their funds through different investments.
We are sure they are delighted with management .They supported this by voting YES for Management at the last AGM."
This is just a normal part of their Business protocols. We are sure they are still excited by with our future.
Look at what we have achieved in the past 12 years with this great Management and the Independent Directorship of the past 3 years has really been a great fillip ".
"Our Management is measured against our peers - did you read how well we did in comparison to other O & G Companies.....really the anecdotal evidence of the wages for out top Executives is on par and for what we have achieved we think we have the team at under market value."
"Imagine if all our Directors were on the open market and got 'poached' to take the helm of one of these peers ; no doubt their salaries would be far greater."

No it's all going swimmingly - keep your eyes open for Plan B and drilling in Peru.

"See you for a sandwich and coffee in 10 months time at the AGM.."
"Can't say too much, but keep your eyes out for potential buy back at these crazy low prices.
PS: Tumbes is still alive ( just don't ask Tim - he forgot the party line in that stupid interview - he was 'misquoted'
All of course is just supposition as to how the call would go and totally in my opinion....just a wild crazy summation.