Ann: June 2011 Quarterly Report and Appendix 5B , page-6

re: Ann: June 2011 Quarterly Report and Appen... Bingy

So when the company makes this statement:

26 wells have been drilled on the Blue Ridge Dome since listing in September 2010, with 24 wells expected to "become" (my emphasis) successful oil producer.

Does that not mean they are not "successful producers" as at the time of writing. This statement was made in the current quarter report. I will add that some if not the majority of these 24 wells may be producing but not defintely all are producing yet and not all in full successful production. I think you will find when "all 24 wells" are successfully producing the production figures will take another quantum step up. As i said just my interpretation of reading the facts. Yours may be diffferent. Look back over drilling v production and you may note that not all are producing yet.

By your interpretation, there is no upside in the wells.