Ann: Change of Director's Interest Notice - Damon Neaves, page-4

If we aren’t organised, we have zero impact or sway, our opinion simply doesn’t matter. So 25% is the required vote to strike against the BOD at the AGM. If the board receives two consecutive strikes (two AGMs) then they are spilled. Damon Neaves as MD wouldn’t be affected, but he is the only one so far that has made an on market purchase since FDR listed anyway, even though it’s a small $7500 worth. A smaller 5% bloc would also allow us to request an extraordinary meeting, if we need to.

My opinion is that there should be consequences for a share price that has fallen 84% since listing. That fall is mostly due to reasons associated with company performance and lack of support. We didn’t get a material farm-out, we haven’t drilled anything. Even though we have actual oil assets, it doesn’t excuse the other failures - it is all a capital loss for the company i.e. it cost me and you money. There is zero broker support for the stock, even after we did an options deal with one for marketing etc - the only ones that actually did okay were the day traders that showed up for a 20% profit. Why are we diluting the capital structure to pump a 20% move so that short term traders can cash in? The way to create real value is to do smart strategic win-win asset and farm-out deals with no capital dilution, and we haven’t done any.

Management and BOD are being generously paid and have overseen the share price decline, so I think it time that either put some of that money back into supporting the company, find a cornerstone to support the stock, or else they should go.

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