Ann: Notice of Annual General Meeting/Proxy Form, page-14

Sorry, but your opening statement is way off the mark.

3 years ago, the situation was that shareholders were informed that huge areas of leased land had been acquired and drilling permit applications were being submitted. Then, nothing happened. The 2020 election in the US then changed the application rules - and BNL had failed to get any applications in before that happened.

Then, it took almost 12 months for the first application to be submitted - 12 months.

18 months later and no drilling for production has taken place.

Slow bureaucracy is NOT this slow and a lot of the delays are down to BNL operating at glacial pace. There is no sense of urgency other than to get the board increased pay rises and "performance" shares which, in itself, is rather insulting.

Yes, this shareholder did have expectations. This shareholder has seen their investment diminished considerably. This shareholder is damn frustrated.