Got an email from Rob last night, don't think I'm breaking any...

Got an email from Rob last night, don't think I'm breaking any laws posting it as it should be public info.


Thanks for your email, I have responded to your questions in CAPS hereunder.



Regards

Rob


To whom it may concern

I have a few questions about the lack of information concerning recent developments with the company.

1) What discussions has the company had regarding the CI-202 licence with the Cote d'Ivoire government? WE HAVE HAD A NUMBER OF MEETINGS WITH THE ENERGY MINISTER IN RECENT MONTHS, MOST RECENTLY IN PARIS AT THE END OF JUNE. WE HAVE SINCE SUBMITTED A DRAFT MOU THAT WE HOPE TO BE DISCUSSING IN THE COMING WEEKS. AS SOON AS WE HAVE CLEARER AND RELIABLE INFORMATION REGARDING TIMING TO COMPLETE NEGOTIATIONS, WE WILL OF COURSE ADVISE SHAREHOLDERS ACCORDINGLY.
2) What is the status of the $10 million dollar payment from Petroci? UNFORTUNATELY THE TERMS OF THE PSC ARE SLIGHTLY AMBIGUOUS BUT APPEAR TO GIVE PETROCI THE RIGHT TO REPAY THEIR BACK COSTS FROM GAZELLE PRODUCTION THAT OBVIOUSLY HASN’T COMMENCED YET

3) Assuming shareholder approval, is the recent capital raising undertaken by the company binding? Will the company receive the entire $14 million AUD given that the stock price is now below the issue price of the new shares? YES




I believe the share price would recover substantially if the 3 issues are addressed quickly and promptly. Lack of disclosure about the above 3 issues is the reason for the current lack of shareholder support.


Regards