Contingent wells, page-22

Hi Trim

You say: "The drilling co would have been advised of the next well a couple of weeks ago. We are being kept in the dark again by our management."

Sorry, but that's just wrong. Cath told me last week that the JV would decide "over the next couple of weeks" (a) if a fourth well would be drilled, and (b) if so, where. I believe her; she has always been open and honest in shareholder forums.

Management often cops a bashing on here - fair enough, as P.T. Barnum said: "You pays your money, you sees the show" and we are all just opinionated typewriter jockeys - but I for one think management is doing a brilliant job. There are many elements of this venture they simply can't talk about for various reasons - THP, market sensitivity, ASX rules, commercial-in-confidence, you name it. I'm fine with that. They have put us in as good a position as a junior oiler could hope to be in the crappest market of all time. Like all here, I hope they get that little bit of luck they need to bring home a whole side of bacon.

OOO