Ann: Notice of General Meeting and Proxy Form, page-23

I see a big difference between plans that involve shares issued to 'sophisticates' as against existing shareholders because in the latter case if we don't agree we don't participate, whereas in the former we have no control. I think everyone here would have been far happier to have seen a CR split 50/50 between the two. As such, if management had to seek shareholder approval for CRs we would have the chance to make those wishes known. I think too often managements generally seem to forget that we're the ones who have taken big risks and put up most of the money to run the show, and especially in CXO's case where directors have been a little shy to say the least when it comes to throwing their own money in. They've also been very casual on numerous occasions when it comes to updating and sticking to timelines. Soon we'll find out if that flaw has been rectified because they've quoted 'by the end of Q2' for the DFS on several occasions. It's a pity some of these issues are detracting from a lot of positive achievements and potentially a very good project in the making, but hopefully the rewards will eventually outweigh them.