Ann: Nomgon Pilot Update, page-246

Coilmaster your posted have been very balanced and pragmantic.

My comments, and a bit like an old record, is resource and reserves are very different, we have a great potential but a long way to go. Seeing what happend with Far East Energy completely misleading shareholders and investors on reserves linked ot fratcure permeability rather tahn cleat/coal matrix permenability I have a concern we have not done our geological homework.

Also concerned we have not delivered our site activities since the CR, before we seemed to be drilling wells here at a good pace but since its been inconculsive and slow when we needed to step up on things and expand our understanidg and demonstrate we had answers.

Most investors will not be technical CBM but looking at project fundamentals which is where we have slowed considerablely and hence support has driffed away. The H2 stuff is very blue sky and Aus is ok but its not people invested in.

Lets see how the results play out but even with a commercial announcement of gas flow it will not lift us up past 15c in the near term i think.