As a long term, long suffering shareholder my comments are as...

As a long term, long suffering shareholder my comments are as follows:

(1) This is yet another stuff up from the TEG Board, GAS was their primary hope.

(2) It is interesting that Towner is still on the Board of GAS. I understood he was originally appointed as a representative of TEG !! So the Board of GAS must want him there and that's their choice BUT that has never precluded the TEG Board from seeking Board representation for TEG. It has always seemed odd to me that this has not happened and perhaps signalled their intent.

(3) TEG has always had many many problems but, in my view, the spend rate of an average of $100,000 PER WEEK (not counting production or exploration) on Staff and Admin is completely at odds with the miniscule size of this outfit. I had hoped the new Board might address this.

(4) It is very worrying that the Shareholders have NOT been informed of the Costs associated with transport of the oil to the overseas ports. Trucking and Shipping are very significant costs and we have no information whatsoever. We should be advised of the costs of chartering a ship to sit idle off Geraldton for 6 weeks minimum, let alone the months it takes to transport to the overseas ports. We only have details of Gross $'s received ... useful but we need costs and we need the actual NET Gain to TEG from the oil shipping.

(5) The real worry is how much cash they actually have, my expectation is that it's a lot less than we all think !!! we will find out what is really going on at the end of this month.

(6) With 1.4 Billion shares on issue get ready for a consolidation followed by another Capital Raise and the issue of more performance options !!. Been there and done that with this stock.

So I still see many problems ahead but I am still hoping for the Miracle !!

Good luck