good news on drilling and brazil, page-3

I could be very scathing, but I won't. The first I knew of this was when I checked the Transocean report. Previously Transocean has stated earlier that 703 will be due for major maintenance before going to our plot. Believe me when I say that would be done at either Kupang or Jhohur Baryu, and there would be significant travel time in doing that.

Scott Hosking replied to an email I sent him (below), he is reasonably confident of a late 2008 start to drilling. However Feb 2009 is now the official date. I do commend Karoon and Scott Hosking on their willingness to communicate individually with small investors but I must ask 'how come there isn't an ASX announcement re the delay in commencement of drilling?'

"Hi (Name Witheld),

Thanks for the enquiry. Karoon and its joint venture partner ConocoPhillips are in constant contact in relation to the issue of when the drilling program will commence. ConocoPhillips has had several conversations with Transocean and the current holder of the rig and believes that we will in begin our drilling program late in 2008. Due to options held by the current operator as well as an option by Transocean to conduct maintenance it is difficult to pin down an exact date.

We are currently in the process of picking targets for the program and hope for successful drilling.

Transocean's investor update is indicative of the rig timing, but the Karoon/Conoco Joint Venture is of the opinion that we will have the rig earlier than listed by Transocean.



Best Regards

Scott Hosking
Company Secretary
Karoon Gas Australia Ltd"

Make it official, announce it via the ASX. This is the fair and proper way to conduct business. This is all I ask as a small investor.

Make up your own mind.