Ann: Pisces 8 and 9 Fracture Stimulation Complete, page-28

Monark, Dont you look at the share price?. i am just surprised that you continue to defend the company when its been falling back in value.

I don't see the share price up from a year ago. in fact it went down 50%, so to me thats a reverse. When forecasts of 30 cents and above are made and we sit at 13 cents is in reverse. When you have a cap raise at 14 cents [equivalent] and you are lower, that is reverse. When its been siting in the same production output range for a year at least its in reverse. Going from 4500 to 5000 is not a significant increase and wont translate to getting it in the 20's. Thats where it should be and we are at 13 cents.

Everyone says its undervalued but if it still lingers so to me that means there are further issues. The market is pretty savvy and knows what is what. lets not treat the market and share traders and brokers as all stupid.

This 5,000 has been spoken about for a few years now as a target. one stage it may even have been 6,000. So I do doubt you are gong to see a significant shift when it does actually happen. It needs to shift but be consistent, steady and have consistent volumes. The volume levels reflect a lagging share price. That is the market sentiment.

You are looking at a valuation. My experience in valuations is also dependant on what is being produced and done at the time. Its also a reflection of the share price as well. It all works together and doesn't rely on a mystical buyer who will come in and save the day.

So I think talk should be on how to improve the underlying business, improve the performance and those on the BOD and focus on re-juvinating the company. However, this should have started sometime ago with targets and performance at its centre.