Ann: Weekly Drilling Update - Red Gully North-1, page-67

Hi Healyn,

I am with you on this one and for the life of me I am still trying to figure out the correlation of the 2 anns, TH and the Weekly drilling report to shunt the end of the TH.

To me a TH is a TH for an announcement that affects the SP. The weekly drilling update is a weekly drilling update if you can see what I mean. Now where in todays ann is the evaluation and integration of prelim data. It was not announced at TH that the drill bit had hit the TD mark but it was also further extended from the planned TD by a few more mtrs.

No wirelogs done, so a gas sniffer must have been used to assess how much gas was in the mud brought up and hence they say this is the answer to the TH reason before drilling hit TD +++. Enough to say its encouraging with the results received.

The end result is the end result for a normal end of hole assessment but still does not marry in why the reason as they say was needed for the TH.

Something is missing between these 2 anns and its time they come clean to WHY the assessment of evaluation and integration of prelim data can be the same as an end of hole conclusion before they hit TD++++.

I have got that mushroom feeling back from the past haunting me.

Without backup words to the end result of "encouraging", I cannot see this to be the means to repay ERM or a tie in proposition to the plant. If there was enough gas wouldn't the flame burn bright. Must be shut off at a trickle and no mention of pressure.

16 days ahead of schedule to hit TD +++ more.?????????????????????

Have we got SHer value from this drill.??????????

The market is not impressed nor SHers for various reasons. Another 249D sought in the short term.???? Will ERM hinder the process.??????????

I have 5c to offer ERM for their share parcel held. Optimistic ME.