effect on dec '12 options.

What effect will the delay of the drilling rig have on the value of our December 2012 Options. Yes,some will say it really depends on the success of the 4 wells we are waiting the results from.

The delay from August to November will be seen, IMO, as another inept management outcome. TB in my view may be a good real estate salesman but he cannot tie up his own shoe laces when it comes to running a O & G company! This just continues his long list of failures moving from what others have alluded to be currently 85% ... we can now make that 86%. This is again serious as to the credibility of SNN as a viable company, led by this group of directors.

What are the ramifications?....not discussed in announcement. Any recourse?...not discussed. Any alternatives?...not discussed. Why the delay in announcement?...only that we are not going to spend very much on drilling in the quarter because...not explained until this announcement. That 'Explanation': The contract we have entered into, and announced to the Market and shareholders alike, cannot be met...another failure. Reasons for delay?...not discussed!

Have lost faith in the management of SNN like so many other holders.