i am in at 25c, page-4

Grangeh,

Yes that was me at 11.37am this morning (check comsec course of sales). It was one 100,000 order - the different parcels are the different sellers that were sitting at 25c.

But I've got know idea why there is a XT (CROSS-TRADE) next to some of those parcels????

I'm not worried about the sp, I'm looking purely the following:

1. miniscule market cap ($16m);

2. Hardie being the majority shareholder; although I'm sure his 21% stake is small change;

3. The QHGP connection - www.qhgp.com.au;

4. The propsectivity of the exploration sites.

5. Sesimic and drilling activity is farmed out to companies with a vested interest in RAW permits;

6. ATP873 is next to Lacerta (see Sunshine Gas)and is on the RBP. It is free-carried by TRUENERGY earning a farmin of 85%.

7. ATP 983 and 901 in Surat Basin (Energetica 25%, Hardie Energy 50%) to be managed by RAW - prospective for oil and gas.

8. Pedirka Basin - 2b bbl oil - see Central Petroleum farmin.

9. Pedirka Basin - farmout to Great Southern Gas. Unlisted. Here is the excluded offer term sheet: http://www.mpsecurities.com.au/Publications/2008/Great%20Southern%20Gas%20Term%20Sheet%20April%202008.pdf

The proposal is to assign the rights for non-conventional resources (Coal Seam Methane and tight gas) in the northern portion of EP 97 for an initial 16m shares in Great Southern Gas plus a 3pc royalty.

10. Once the Great Southern farmin is finalised RAW will own 23.5% of the co.

So basically it has a good spread of oil, natural gas and CSM plays. I like it, a bit of a punt, but I am a big fan of the Pedirka basin and it's future. Untapped.