material capital raising, page-22

hi gloucester, I think the directors have been doing a good job. You are right in that a lot of things have been outside their control and I think they have to be commended for being conservative during the CO2 negotiations. If they jumped in quickly and signed up a supply agreement early at ridiculous prices that Exxon demanded we may now be looking at a similar situation as Rancher.

Oil prices will eventualy kick up, maybe not to the $140 level, but I think a $60-$70 price is good for everyone and will make Grieve attractive. The potential is still there, lets make sure we get the most value from it that we can.

Sometimes slow and steady is best.