Jake,Funding of the Project should be readily available without...

Jake,

Funding of the Project should be readily available without a big cap raising with:

A current cash flow of about $100M dating from the effective date of July 2009

Payment for the transaction due 'after February 2010',

Firm contracts for sale in place

Long field life expected to be at least 20-30 years

Expansion plans are being considered by the Operator and joint venture

Partners to increase production from 2011 and improve efficiency

Price reopeners exist in current gas contracts. Additionally there is potential for sale of uncontracted gas reserves and resources at prices higher than those existing contracts

and, importantly:

The Yolla infrastructure may be utilised for the commercialisation of nearby discovered but undeveloped resources in T/18P. These resources include Trefoil, White Ibis and potentially Rockhopper (to be drilled next month).

Trefoil results on the discovered Trefoil field should be known this week and allow final field design.

This is an exciting announcement by a company with a mc of only $40M.