Ann: Quarterly Activity and Cashflow Report, page-5

Hi James,

I beg to differ in some respects, I raised this point in the last quarter and David Deloub gave us his input which was
'Their is a ongoing approx 2 month delay in payments for the certus well.'

So in December 2023 quarter the lag was 2 months at 300K/month or 600K.

Now after the Certus well upgrade in production the revenue is around 425k/month so two months lag is 850K. the difference between 600K and 850K is 250K attributable to an increase in Certus increase.

These figures all tie together. so 850K still owed from the lag of two months for the Canadian wells, plus their is the proton loan interest and us wells giving around 900K still owed.

1.276 million per quarter in revenue if around 5.1 million revenue/year. not bad for a company with a enterprise value near 0 and market cap of 9.6 million.

This is above my expectations and i hope the revenue being spent is being used productively investing in new wells.