re: Ann: Land Purchase MOU signed for Prabu 1... Hi...

re: Ann: Land Purchase MOU signed for Prabu 1... Hi Reichman,

Like you, I'm quite happy with today's progress. Before QPN can run, it needed to establish land access, and importantly the 'rights' to oil & gas. This has been achieved. It took a while (as do many things in Indonesia) but as long as it is done legally and supports the company going forward, then this is diligent management.

Currently, the market is slow for the junior oilers. That said, QPN has a lot going for it once we get a rig announcement and an estimate of spud date. They will be the catalysts for SP movement. IMHO, the SP movement will be significant at that time. Reasons for this include:

* target potential up to 59mmbbl or 340Bcf gas. This is a large target given the MC of Quest. Most traders prefer a high impact drill as it offers the possibility of a high impact return.
* the SP is still within range of historic low levels. Last year the SP hovered over 1c on anticipation of drilling. From here, that would be 100% return.
* If one takes the options as a guide (currently .002c for use at .015c), then punters are banking on .017c to break even. Clearly this is speculation. That said, last year the SP hovered close to .012c on anticipation of drilling. When the real things actually occurs...
* The leverage from such a low base price, and the % increase per .001c from this low base, make it appealing for day-traders and speculators alike.
* QPN have potential drills to follow if implemented. This encourages punters who wish to hold through the drill and are not playing a BESBS (Buy Early Sell Before Spud) approach.

We should now start to see accumulation after today's announcement. Bring on the rig contract and a spud date - then the real action begins.

Some things are worth the wait!