Ann: Change of Director's Interest Notice, page-46

Hi Szaba...yes I'm way down at the moment. I think I'm in the same submarine as most of the regulars that post here on HC, including the "truth givers" such as the big dog.

I try not to look at my Commsec account because I invariably gravitate to my FAR holdings which displays both copious amounts of RED along with the usual performance chart on the right side of my screen which displays a plummeting SP.

Disgusting really.

As most on HC would agree...the Commsec performance chart is the markets true reflection of our managements efforts. All rapidly downhill. Both shorting and market manipulation dont get traction in a vacuum.

Luckily I retired from technical analysis trading many years ago and moved into fundamental analysis which required investing in assets with perceived inherent value. I would assume that all the "happy clappers" on this board are probably the same as myself.

So I sit here writing this piece with a fairly good understanding of the underlying worth of FAR "assets". I also fully appreciate that those assets are worthless without funding/good management to develop them. The ability to, firstly secure leases with high oil probability and, secondly, to raise and secure funding to explore, and now to also develop the assets are part of the measure I put on management. PE has had 3 main damaging affects; it has distracted management, it has cost us financially in both ongoing funding costs and immediate costs(yet to be divulged) and it has cost us in damage to internal and external relationships. Was it ever going to be worth the exercise?, would a more experienced team have gone down this route?....now that it is near closure perhaps we will get to see more of what was happening backstage.....I think to repair shareholder faith we should NOW be given explanations that, in the course of the arbitration, were withheld from us.

As Tim so succinctly put it many years ago "I try not to get too hung up on day to day SP movements" or something like that.He is right to a degree because it it is always important to have faith in your original judgement, its equally important to change your opinions and evaluations as the facts change.....in other words never wed yourself to an investment, only the evolving underlying value(including the abilities of management). We know that both the Robertsons are men of international significance in both law and political nous. So when Tim doesnt move with his shareholding it gives me some comfort.

But I do like my investments to remain liquid and maintaining perceived value is vital in order to give me some wriggle room....so at the present time I feel exposed, and that is the degree of uncomfortableness I have at the moment. I completely understand Kbrown and Rolla and others that are p$#@d off and calling for heads to roll when the SP has the affect of trapping you into an investment that, not only has a great deal of uncertainty surrounding it, but also comes with the additional uncertainty of global events.

I look forward to some "public" notifications from management providing some clarity and forward guidance to our investment and in particular the cost and relevance of the PE exercise.