On the Horizon, page-8

Hi Jim

He didn't really say much else aside from that ARP has debts it needs to pay, and that once those debts are paid the shareholders would likely divide up remaining shares in LCK amongst themselves privately. I believe a lot of it stems from Sherwood and his antics, sounds like there is quite a bit of bitterness on both sides there.

I think at one point ARP was a subsidiary of LCK (or Marathon), but I think the term has been used interchangeably (by Tony and I).

I believe the deal is that at one point ARP owned PEL 650, but when the company re-listed the PEL was sold to Marathon (now LCK), and ARP received shares for the PEL.

Apologies if I have used the term incorrectly, I don't believe ARP is still a subsidiary of LCK, but there is quote a bit of overlap between past and present employees, shareholders and directors within both companies.

Currently it is just a case of one company (ARP) being a Top 20 Shareholder of a larger company (LCK), with some similar faces moving around each - at least that is my understanding.

Hope that helps