Ann: Hickory-1 Flow Test - Second Light Oil Discovery, page-70

yes but it doesn't add up. appendix "j" shows only 4 stock barrels of oil collected over 16 hours. That equates to 6 barrels of oil a day. no gas means nitrogen lift = sluggish.

ASX uses this appendix's so that companies standardise information and reduce the incidence of miss information.

Cut was 10% at peak 4% avg. The figure is extrapolated and imo is not a true indicator of flow rate, just like the first flow test.

They will need to now open up Icewine1 and perhaps do a flow test or move straight to a horizontal and multistage frac and do a long duration production flow test cost $40 mill est.

If they do this they will also need to truck the oil out.

funds run dry after paying for this flowtest so there will be significant dilution

Namibian payment June,
overheads - longhorn not meeting these costs

Consolidation is necessary now due to sp.

1:100 is probable

I hope shareholders will push for a merge with PANR after the consolidation- Get rid of our team and run using PANR team

Start by voting NO to all items and get enough votes to board spill. Then open up discussions with PANR.

all my opinion

DYOR.