Ann: Quarterly Report for the period ending 31 De, page-21

re: Ann: Quarterly Report for the period endi... Ozgem,

You need to read more carefully, the wording in that explanation says...

"Upon completion of the proposed placement, and WITHOUT including any Shares issued in the context of the $6M SPP...and the proposed shortfall placement...blah, blah, blah.."

So Mr. Thai was taking up his 19.69% in the co. from the placement all along (just needed s/h approval for the 2nd tranche as over 15%), and all along known to the "Board", but unbeknownst to share holders!

Btw, OEL's two largest s/h's hold more than 21% each, and have had for quite sometime...no T/O fears there...yet.

At least Mr. Thai has experience in the oilfield, this may not be a bad thing.