Ann: Quarterly Activities Report for quarter endi, page-4

re: Ann: Quarterly Activities Report for quar... Yeah, that was my first thought. Tho what are they going to spend $40m on in the next year? They only spent 2.5m in past 6 months from a quick look at the books.

"MEO evaluated a number of New Venture opportunities during the quarter." Maybe a new JV?

If there's to be no JV then costs seem minimal in quarter ahead at least...

Priorities for the quarter ending 31st March 2010:
- Execute binding agreements for WA-360-P farm-in
- Secure drilling rig to drill Artemis-1 in 2nd half of 2010
- Continue efforts to secure gas for approved Tassie Shoal projects
- Continue discussions with prospective partners for Tassie Shoal gas processing hub
- Selectively screen New Venture opportunities

A buyback of $20m worth of shares could be very beneficial to shareholder value. Cash is king I suppose but it warrants thought IMO...