Ann: Company Presentation - May 2014 , page-4

Presentation - An absolute waste of time.

Pie in the sky - fantasy land

Just think how much WE, as shareholders pay these people.

Take a look at slide 5, you'll see there are 76 undeveloped 40 acre locations, and over 75% is HBP. However in the top of slide 7 it tells us over 73% is HBP and there are 81 undeveloped 40 acre locations. Bottom left of the same slide shows 82 gross 40 acre locations!!!!!!!!!!!!

Apparently in 2013 we spent $51M on Capex on Southern Star. In 2014 $150M is to be spent there, yet according to other parts of this so called presentation precisely 7 wells are meant to be drilled there in 2014!! We're meant to have a Southern Star net funding requirement of $38M in 2014!

It gets better slide 25, shows 300+ drilling locations at 40 acres at NS, slide 30 repeats this number, then it bottom left states 154 gross 40 acre locations!!

Apparently Capex was $35M at NS in 2013! for 2 wells!! However in 2014 Capex is going to be $141M, Yes $141M with a net NS funding requirement of at least $71M, yet the presentation says only 1 horizontal well is going to be drilled in 2014!

So in summary then, according to this presentation the company needs net funding of at least $109M in 2014.

Seriously how can you trust a single word they say!!

The best laugh is the share price went up on this piece of dribble.

LOTM