Hi Lazarus65, I agree sacking everyone would be a worry!...

Hi Lazarus65,

I agree sacking everyone would be a worry! However, I am suggesting pay cuts and a reduction in the expenditure for the next 6 months. The estimated $900k for remuneration, travel, administration for a small exploration company is very high, in the context of waiting 6 to 7 months for any news on oil flow and no confirmed spud date for the conventional well. There are numerous examples or small exploration companies reducing office space, reducing remuneration of MD an Directors, and other cost saving measures that do not involve sacking anyone. Any operation should reflect the share price and available cash reserves and cash flow - simply a commercial reality.

Some of your comments do not make any sense, crunching numbers for IW2? Announcement stated IW2 shut-in until April or May 2018, at which time re-commence testing and then results will be interpreted to determine oil flow, as yet there has been no oil flow. Also, see previous announcements, 3D has been acquired and will be available next year for analysis. (although if you can show a source where what I saying is wrong, please advise).

As I stated in my earlier email, I would like PB to provide an interpretation of the data in the announcement, as providing mere data is of little use to the lay 88E investor.

Boston