apg , page-6

Ben

I cannot think that some of your comments are aimed at some of the comments I have made. Well .... thanks for your opinion.

Lets be factual. APG have done deals in the past and what did it amount to. ..... nothing. I look at the facts too and am not being negative. After all I own enough APG shares to be concerned. My comments are more than just casual ones.

In regards to the big E I too am glad that he was not reinstated. Whilst it would not surprise me that he sold whilst promoting apg - I have to stress that this accusation is speculative and we should leave it at that.

Yes agree with most of your comments. Testing appears to be meeting timeframes and outpust expectations. Costs appear to be contained. Lots of good news there.

But the real deal is putting all this woking into a comerical arrangement that yeilds income. Without BHP actually using thetechnology, the licence deal is worthless. Time is a very important factor in valueing a company and if there is no indication of licence fees being tagged to a timeframe then how can we value the licence (by the way I taken on note the 3.5 - 7% fee range - humms)

GC