Thank you Mackam for doing that and fetching up those previous...

Thank you Mackam for doing that and fetching up those previous announcements.

That saves me having to find them again for Supertramp.

Also Mackam, thank you for correcting me on the IMP receives 75% of the current 18 wells ...4 drilled and successful so far ...as we look to news of the 5th well maybe tomorrow at the earliest or more likely next week.

I appreciate your inputs.

Imperial is an experienced player and has asked some good questions:

"what about competition and oversupply forcing the price down? whats unique about imp in the marketplace? what is its advantage? besides location..."

1. There has been no history that i can find to show any decrease or oversupply except for a flattening off a few years back. IMP took advantage of the flat period by buying 160+ wells at a bargain 75 cents per Mcf of proven Reserves PLUS they scored a valuable high speed drilling rig and accompanying equipment. The normal going price for other similar gas reserves was $2 per Mcf Reserves. So the Management of IMP deserve a pat on the back for that foresighted acquistion at the time ...just as they did with their purchase of 5% BMX shares. Because of the nature of the huge markets on IMP's Pennsylvanian doorstep of Washington and New York etc, there is ever increasing demand for Nat Gas

2. Advantages?

A. With a current score rate of 100% success for all 24 wells drilled that is a winner for me ...especially against the usual hit and miss wildcat wells sunk elsewhere in Austalia and around the world;
B. The wells only cost $200,000-240,000 and only take about 9-18 months to pay off;
C. The wells consistently have a 40 year lifespan, so after they are paid off in the short term they are beautiful gas-flow-cash-flow-cows;
D. There are 14 more likely positively successful wells in this current 18 well drilling program with 9 compacted drilling pads prepared and ready to go ahead of each current spud in;
E. They have earmarked and designated 120+ drilling prospective sites already and they have even more very prospectable country under tenement.
F. Highly predictable low cost, excellent cash flow, with good cash reserves, especially with the sale of $14million BMX shares coming their way within the next month or so, leaving no debt and a handy Macquarie Bank $100 million line of credit to smooth the cost payments for the next cash flow rich wells to be drilled.

Other good advantages i will leave some of the other old timer shareholders to fill in for you Imperial.