Ann: Major Upgrade in Red Gully B Sand Gas Reserves, page-52

Really I cannot understand the paranoia about ERM. If the share price goes above 0.8c we all win. They dont take all the cream.

I hold ERM but really any improvement in the purchase price only goes to offset the $3million they wrote off. They are shareholders as well.

Personally , and will say it forever - No-one invests in explorers for them not to drill - really RGN has been the favoured one for ages - everyone knows that what are we waiting for a farmin - it wont move until we show the way.

What I want them to do is go to bank to capture LPG that is additional revenue stream $10 million cost (If my memory is still good - I may have memory fade given how long this story is taking to unfold) Maybe they only get $5million but that should be okay. We have cash flow and that will pay the loan off.

Then get the rig in the ground if its a duster our share price is still the same whats the difference between 0.4c or 0.5c or even 0.3c we have to change the game. Go to ERM and ask for a loan extension borrow a couple of $million against future income but get the drill in the ground.

Farmin at reasonable pricing in my opinion is only after we return to drilling.

People dont believe - thats what I take from this. Plus it took 3 days to get this announcement out , we had to go to suspension and wait until after hours on Wednesday for this upgrade - amateur hour in my opinion. I would only go to Trading halt when I knew what the report said , until sent to directors it means nothing so why could this not have been wrapped up by Wednesday morning.

Despite all of this I bought more this morning - my faith is in the new director - need to find a contact email for him.