Ann: Drilling Update , page-8

MT,

30 - 40cps soon?

That is moving them from $135m to $200m -$270m range?

I am not sure if they can hit that high just yet, I would think they would need reserves before the started getting over the $200m mark.

25cps might be achieveable if they continue to obtain good drill results into the new year. This is not the only potential price catalyst thought: we still have the PNG permits farmout as well as an offer to KOGAS for a farmin in on 813/814.

Anyone know when the most recent acreage was gazetted by DME?

Cheers,

SF