Ann: June 2015 Quarterly Report, page-15

Hi guys,
Don't want to appear negative but completely disagree.
Three points :-
* the one million sell order @34c was way too close to the market (at least this morning before the late sell-off).
It is obviously genuine, who and why ...... not sure, but there are plenty of distressed sellers in oil stocks and the LVR changes just exaggerate this.
* totally losing faith in the strategic review ! The gas leases have been on the market for 5 years and are obviously worth very little. The only saleable asset is Manora but who would want to buy this with the Chatchai problem, court case and cost over-run hanging over it.
* RISCO have been consistently buying but seem to have withdrawn (or be convinced that they can buy the shares cheaper in the future).

Oil prices seem to be stabilising in the mid 40s - also not great news for a potential buyer or a profitably sustainable business.

Very gloomy ...............