Ann: Cleansing Statement & Appendix 3B , page-13

" And you are indeed an optimist. "

Hi there Norsca1, on the contrary Norsca1 absolutely on the contrary. At least when it comes to the future of this company with it's track record.

8,806 acres down to a current 1,000acres or less currently and dropping.

How can anyone in their right mind be optimistic ? The company is about to be placed under more scrutiny and the next well in the "dream programme" now in great doubt with the end of October upon us. So the original 2 well programme, which turned into a 10 well programme, which was pumped as a 100+ well programme with a greater exposure to the big returning horizontals and now back to drilling and completing the 6th and 7th well and see where the company is holding up, programme. Laughable, absolutely laughable in my honest opinion.

This statement from the company yesterday was very alarming in my view, yet not a surprise, not one little bit. The statement regarding the disclosure, I will make comment about next week. In my view and opinion, a hilarious one liner.

3. "At the date of this notice, Golden Gate is in discussion with several parties regarding funding options for the company, which may include: equity and debt financings; farmouts; full or partial divestment of the Company's projects, including the Permian Project; and mergers, there is no other excluded information (as defined in paragraph (7) of Section 708A of the Act) which is required to be disclosed by the Company."

The market is still being told, on one hand, there is a chance of debt financing, and farm outs where for over 12 months now the company, on the other hand is still saying, only after being questioned and pressured by many shareholders on the matter, the legal issues are preventing any such deals. What has changed ? If so why do we not know of such changes to the state of play ? This is how I am reading the state of play here and I would like to hear from anyone who has a different understanding of the current state of play.

It, the GGP story, wouldn't be out of place in the Humour thread ! If it wasn't so serious and there are a number of people who are doing just that, taking this matter very seriously.

So, in short Norsca1, no I am not an optimist at all. I can't see anything positive that is in the public domain at this stage. I am sure the company will announce further news soon, regarding legal matters ? Or will they ? :) Lets see.

Regards