converfence update, page-10

Certainly Doyle comes across as very much the committed and enthusiastic professional. He has drilled wells as a drilling superintendent for Esso Australia as a young man and knows the business. McGrath, his colleague and Chairman, is more reserved but reputedly a very clever corporate strategist and has a deep knowledge of corporate law and accounting while understanding the drivers in the oil and gas business. He gave a paper to a conference in Victoria a couple of years ago where he was on the same panel as Reg Nelson from Beach and Ian Tchacos from Nexus the was chaired by the oil and gas divisional head from the Victorian Department, and it was very perceptive about the GFC to come and the effect on oil prices and the lack of technical excellence in certain mid-cap Australian oil and gas players. OBL appears to do everything technical as well as it can without rushing to market. We now wait to see the next step.