annual report just out

Dear All,

I like the cash position in this year's Annual Report just released.

From the CEO, Mr. Tom Prudence:-

"The Company is now looking forward to the four remaining
wells in its 2013 program which if successful will offer material potential for Company growth...

The Company continues to enjoy a strong financial position
with no debt and is therefore in an excellent position to meet its future investment requirements. Last year cash flow from the Tui Area Oil Fields delivered gross revenue of $19.75 million.

The Company also agreed to sell its Carnarvon Basin interests to Hydra Energy (WA) Pty Ltd receiving a consideration of US$3.3 million and reimbursement of A$0.48 million in past costs.

A Capital Return of 5c per share received shareholder approval at an EGM in October, and A$29.4m was paid to shareholders.

At financial year end the Company had cash reserves of
A$76.67 equivalent to approximately 13cents/share."