Ann: Investor Presentation - September 2019, page-15

I thought a second well was planned later in 2020. Where is the expected drilling report here. I am PO quietly. If only 1 well drilled then that’s unacceptable along with another arse covering cap raise. Would love to see remuneration cuts to reflect the wastage of holders cap raises funds. Lead by example I say. Pay when perform.

If it wasn’t for premier this coy would be in a world of pain. So no amount of flashy regurgitated presso’s is exciting me for the minute. Drill bits only do it.

The reason is simple, they wasted millions on IW2 during second attempt. They were told to box and drill conventionals and come back to it.

They wasted way too much time focusing on 1 FO. They should have done many more in my opinion over past 12 months. So funds would have been available in 2020 to do multiple wells. Unbelievable people still praise management.

I could criticise heaps here but won’t. I have said enough, I know I am not on coys Xmas list any longer, calls are never returned, happy with that. But I ain’t responsible of why 88 is a basket case they are.

All I know we are becoming a huge ? to holders, market sentiment is poor along with SP, continued dilution, drilling mistakes on every well, wastage of funds and by 2021 10billion shares and the BS consolidation issue will be forced. If nothing flows then turn lights off and administration we come.

We certainly have badly underperformed and riddled with poor mistakes. Is our luck going to change for Charlie. Luck has more influence than what skills 88 brings in deciding our destiny in my opinion. What a horrible 4 yrs. such a poor investment from my perspective. The boards remains, unbelievable. Over and out.