fyi, page-5

At the time the of drilling the last prospect the JV was not ready but had to drill a well as part of the committment. We at the time didn;t have the cash either and we would have had to to do another cap raising. On the then data ITC felt it was appropriate to walk away.

I think relinquishing 75% themelves works two ways. It costs VPE nothing to drill 2 holes and if they have success all well and good and we can weep or they walkaway with it not costing anything. Pretty good deal really on probably a high risk target. The Murta as we have seen is a pretty touchy horizon.

I suppose we will watch with interest.