Ann: Quarterly Activities Report, page-20

I learned a very important lesson with CUE and NZO – never buy shares in a company with a blocking stake greater than 50% or 20% for that matter.

Sold out awhile back in both, put all the proceeds into US/Canadian Natgas – haven’t regretted that one bit.

Key for me:

Lifestyle Company

Lack of reporting both operational and financial

Questionable& fragmented jurisdictions/permits. Non operating

Crazy complicated financial & controlling instruments (related party)

And the final straw, the underwritten rights issue on NZO . No one in NZ (primary listing) buys or understands O&G stocks anyway and so was always going to dilute us. Just keep diluting until you get to 90% boys

Yes I’m bitter, lost a lot... but learned some stuff too.