Ann: Contingent oil resources at Red Gully North-1, page-37

Agree but have blown 25Mil on this well, hind sight wonderful thing but we could have done 2 wells with the money they have blown.

What angers me is that they were so focused on RGN, Consolidation and put every holders investment at risk as it was simply a lower risk which has turned out to be a disaster for every holder and this was an attempt to prop the depleting reserves of our gas plant. Now we are in all types of trouble. Great team we have! The market knows this story well.

All they had to do was not consoled at this stupid level and do the north first as most holders were promised. Hey but they know best, look at where we are. I just want them all gone. We would not be in the mess we are in now once Lockyer etc in north flowed. SP would be up, market confidence up and the big story we would be working to be company of choice in supplying gas to the market. Perfect story of potential basically managed so poorly imo and gone to sheet, that's exactly where we are now!

Now we are forced to sell (farmin) 1/2 of company, wasted 4 yrs, blown all our money, market and industry heavies see's the running of this company as questionable and scratching heads of how we have blown so much potential. Still some holders actually believe it's not our teams fault and support, unbelievable I blame them 100% for what they have done.

This team have lost all my respect and confidence, that's why I support a farmin now, they can take it all for all I care, just want SP up and out, now my average 45c. Even better I just want them all gone!