Ann: Quarterly Activity and Cash Flow Reports , page-3

Northern Star is now a priority ........

To quote the quarterly report.

Really, it is .....

hmm lets see, we've waited what is it 6 months now for Debnam to be fracced. OK so they wanted to see what Cozart did first of all, which is fair enough. However they could have organised Debnam to be done anytime from mid March onwards from what was known by then. Here we are nearly into May and still no firm date for the fraccing to take place.

Oh yes the other main point expenditure for April to June, $2M on Exploration & evaluation and another $2M on development. Doesn't even cover the cost of a single well nevermind drilling and fraccing a series of wells in the coming 2 months. That's against the 1st quarter budget of expenditure of $2M on Exploration & evaluation and another $5M on development.

So a $3M reduction in expenditure this quarter and we all know what little activity took place in Q1, so its going to be pretty quiet here until July at the earliest by the looks of it. No shareprice drivers in place.

LOTM