fracturing, page-16

Not a lot of tension but loads of questions.

One shareholder asked why the "sweetener" of the options and the response was that at the time (in Feb) when the raising was done, the sp was at 2.2c, around 10% benefit for those getting the options. Chairman said a sweetener in real terms would be a 20% to 30% uplift. It was pointed out by another shareholder that the when the whole Warro story began and the rig was organised etc the share price still remained at 1.5 - 1.8c. To this day, other than the progress made on site, there is still no absolute results. Until the flowtesting is completed no one will know the outcome. But people following the story are benefiting because they've bought along the way at the right time when the sp fluctuates.

When asked how the fraccing went, the Chairman said it was successful and if he were to give it a mark out of 10, it would be a 9.

The meeting was good, I'm surprised there weren't more shareholders attending.