Ann: Port Development Approval and Corridor Minin, page-102

re: Ann: Port Development Approval and Corrid... Hi Roh - I know what you are trying to say but Exco is an explorer and they have cash flow from their gold mine they will have plenty of cash to keep exploring.

We are lucky that Rocklands warrants a $200m capex spend when clearly the CCP project was marginal. Exco management have grown shareholder wealth with minimum dilution as Cudeco have done, QMN on the other hand have destroyed shareholder wealth and will have a billion shares on issue if they are even to survive let alone go mining.

The writing for QMN was on the wall when CDU and W.M sold out .

Hoot