Drilling Activity

Hi All,

Just a few comments to add to the recent stuff from you all. Re the website I also noted that a US based investor relations company, Dennard Lascar Associates has been appointed to assist with investor enquiries. Again moving to a more professional focus. An item in the Oil and Gas Journal caught my eye and I think it directly applies to our business. It has been noted that more drilling is occurring in the US but not all wells are being completed to production. This has been attributed to both desire to build a stock of wells for future use and higher prices but also to ensure the drill it or loose it terms of leasing are not breached. Importantly for us, companies are very focused on retaining leased acreage as new leasing is a minimum of 5 times more expensive to secure that just two years ago.

Looking forward to quarterly at month end.

Cheers