Fellow Shareholders, The most disappointing update so far. We...

Fellow Shareholders,

The most disappointing update so far. We have cut this management fair slack and now the time has come for action. I propose the following:

a) We want management to provide plain English update with no hidden information. Tell us like it is. Don't try to spin with phrases like extraordinary, exceptional, significant if this can't be backed up ie no hype just plain truth.

b) As we are still in the middle of appraisal with four wells, Let us give management another 45 days (ie till end July 2012) to prove that they are upto the mark operationally.

If above is not achieved then call an EGM (not for LTIP) to

c) Give the current management the flick.

d) Hire independant consultants to evaluate our leases and see if anything is commercially viable.

e) Hire new management and ask them to buy some producing properties to get us into cash flow positive before all the remaining money is spent

f) Based on expert advice, concentrate on one area to maximise the potential.


If current management can't, then let someone else do the job properly!!