Drill PEP 11 Now, page-24

Hi Adamleo and all,

I’m not sure if there is still any official agenda for this company, I hear talk of starting drilling as soon as possible and try and run the share price up rather than any real desire to find oil or gas. The last time PEP-11 was drilled back in 2010 shareholders where assured the drill was right over the sweet spot and Mr David Breeze even estimated the amount of gas to be found. Sure, the share price ran right up to the time this expensive hole was declared a duster.

The various characters involved in this fiasco, the back stabbing, legal challenges and in-fighting should be enough to deter any level-headed investor from touching any of the companies associated with PEP-11 with a barge pole.

If the ASX or ASIC or any other policing body was paying attention here, they would take this lease away from this bunch of child like directors and hand it over to a competent oil and gas company. Hopefully one with a real intention to find oil or gas!!!

Of all the years of watching stocks I don’t believe I have ever seen such a bunch of vindictive and value destroying individuals in charge of a company. Of course, that’s just my opinion having observed this group for several years, if you feel any of this bunch deserves your ongoing support then I congratulate you on your generosity of spirit.

Cheers and very best regards: Andy