Well that was worth attending. Got to talk straight to them and...

Well that was worth attending. Got to talk straight to them and they were impressive in their responses.

Mark Freeman is a quality director, in fact so are the rest.

Ok this is straight from the horses mouth.

1/ No chance at all of a share consolidation. They think it destroys capital and have no interest at all in doing so. Also agree with me 30% of capital in hands of directors leaves comfortable amount of trading stock.

2/ Bank account is $6.5m currently.

3/ Bringing forward Desiree because we have 53% WI is not how it works. Vermillion has a much higher NPV although small WI. Its the bottom line value that gets its ranking of drilling order not WI. Having said that all permits and lease deals done on Desiree and ready to drill. But will do in March.

4/ L $ B 3 is doing well. Daily BOE is up to 280. Reckon they will hold it there. When you crank it too hard you create new problems.

5/ Delays with Albita, just a bit. Due to getting government permits. Online January.

6/ Grizzly was something they wanted to buy last year and missed it. Came up again to a partner in pain. Currently at 10,000'

7/ Told them the changing of exercise price on director options was a real bad look. They took notice but it wasa done deal. They really took notice.

8/ Told them is dual directorships is also a bad look and they needed to focus on GGE business. The fact that one of them is a director on a piece of xhit oil company that has been reduced to a shell just reflects on GGE. They took notice and there was sheepish acknowledgement.

9/ 50% Grizzly is owned by a private company whos owner is worth 6billion. Has a very good success rate.

10/ The rush to shale gas has meant their is very good deals being dropped by big boys. GGE looking at some at moment. They want only turnkey deals and with the big boys.

11/ Mantle Oil aint getting near our wells again.

12/ Insurance settled all major claimaints on D 1. Just mopping up piddlers now.

Flux