Ann: Letter to Holders of Listed Options, page-45

Olderwiser,

I agree, and that is exactly what I am talking about.

Geoff told me at Techknow, that licensing deals aren’t good because after a few years they the using company thinks they own the plant and don’t want to pay further royalties.. surely that is a contract issue, and not an issue for the company. Lawyers work out that stuff.

He also said 1 partner to cater to is enough.. all of this leads to hazer going alone, which is what he told me he wants to do.

He or the board have changed in some way, as there has been a shareholder update to try and dispel the talk on here. But so far has done nothing.

I spoke to a legend who told me there is a Sydney broker who has sold 1.3mil shares over the last 2 months with 70k the day I got the info, that amount can only be Geoff Pocock. Maybe he has exercised some options to keep him above the substantial holder change notice, and kept it all on the quiet.. so another reason I am not certain about hazer’s near term future for a capital raise above 30c..

If geoff changes his tune and wants to drop me an email telling me that, Tom Murrel has it, and if not it’s [email protected]..

I don’t think I’ll hear from them...

The options will expire worthless and as a top 20 holder that’s a nice little chunk that won’t be exercised..

I also spoke to a friend who has 200k options and won’t be exercising either. I recommended hazer to him..

Something needs to change for the viability of this project to be huge, IMHO..