Email from Cath, page-41

PE is NOT a HC term at all. The most common one in the trading world and possibly even on HC is Price/Earning ratio. Not that many companies are in the "PE" situation as FAR is in. Whereas PE would be used on most companies that have some sort of earning capacity and there are a lot of those on the ASX; then there is the other more common one that could apply to FAR also, is Private Equity. On HC, PE would be probably 90% of the time, taken to mean "Preemptive" only because we all know the situation, and why not, I myself think it's happening and contributing to that "added value". Imagine another upgrade to our 50% of SNE is nothing to sneeze at, even thought we had to wait a long time to find out.

Though if CN is confused with the term, I think then perhaps there could actually be some truth in "Private Equity". Maybe that is also in the background and she thought that HC has got some wind of that from somewhere; as well as the know one which is "Preemptive".

All these "maybes" are interesting to discuss, but the more interesting one will be this week's (hopefully if without incidence) info at TD.

For those in the industry, can you enlighten us armchair speculators about the connectivity test, I understand that they could just send a pulse down the hole and hope that the transponder at the far end responds, or they could flow the well and see if the pressure depletes at the other end? Or both? If it is the former, we could get news very quickly. It's now at 4 weeks.

KKW