Ann: Otto Energy - Notice of Meeting 28 February , page-4

re: Ann: Otto Energy - Notice of Meeting 28 F... sirsenor the terms of the options are the greater of 12 cents or 150% of the 5 day VWAP on date of issue. as per 1.2.1

The issue of divesting the turkey assets is simple they drilled all of the target they could and gas rates were dropping look the the expenditure to date and the return generated from the asset no point holding an asset that will not generate a return better to pull the plug early than be stuck with producing little gas. They have been quite clear all along they would get rid of non core ie Argentina and Italy now its turn of the other non core assets sc50 ect. Management have turned the company around and should be rightly rewarded for doing so 4m options is less than 0.4% of the company lets put things in perspective.Hopefully the quarterly will clear up alot of other issues but no point holding onto assets that cost money to keep and cost too much to drill or develop its simple risk vs return the dropping of these non core assets must surely bring down admin costs so there is that upside as well.