ouch!

That hurts!

Whilst everyone else is digesting that enlightening quarter I thought I'd get my rose tinted glasses off and have another look at my beloved investment....

FINANCIAL HIGHLIGHTS;

$24m GP
($30m) company exps
($68m) finance exps

COMMENT;

We are extremely delighted to see that cash is catching up with burn.

OPERATIONAL HIGHLIGHTS;

We've completed the concept study to get a concept design for the scope of a project at Exaro?????????????

We're progressing on the progress on the ongoing work on a screening study for Yakult.????????????????

We're progressing with a view to progressing in Poland????

We're continuing on the continuation of the progress of the BA purchase so that we can progress the continuation of the proposed divestment plans for the coal business.????????????????

We're awaiting the final word from the EPA so that we can get a clear path to not develop UCG in Wyoming.???????

We're delighted to announce that our Dec. Quarter target for 9,000bpd oil production in the Gulf has gone from 7,000bpd to 5,000bpd .....which means we dont have to pay Scott his bonus.????????????????

COMMENT;

We hope that you are as excited and inspired as we are with the solid results in activity by our company. The move to the SGX was timed to coincide with this uptick in activity and we are confident the Singapore market will reward us handsomely.

THIS QUARTER SPENDING;

Repayment of Asset-Based Lending Facility
A$36,243,000

UMIAT Exploration
A$27,876,000

Oil and Gas Development
A$20,824,000

General working capital - Australia, Asia, Europe, Africa
A$19,644,000

Interest paid on 12.5% senior secured notes
A$17,416,000

Pay down of Revolving Reserve-Based Lending Facility
A$16,947,000

General working capital - USA
A$8,354,000

Interest paid on 7% convertible notes
A$7,555,000

US Production Costs
A$6,821,000

IPO Expenses
A$3,511,000

Payments for commodity swaps
A$2,690,000

Polish and Australian Exploration
A$1,017,000

NEXT QUARTER SPENDING;

Conventional Oil & Gas (Umiat Development)
A$13,171,000

Clean Energy
A$1,911,000

Coal Division
A$4,571,000

COMMENT;

We wont spend anymore than this.(we promise)

EVENTS OCCURRING AFTER REPORTING DATE;

We did manage to borrow some more money to add to the A$102,000,000 we have in the kitty that we arent going to spend this quarter.(we promise)

We did manage to put down another few wells in the Gulf with great results but we arent going to tell you about them here. why would we???????????

COMMENT;

We have learned from deep experience that if you expose mushrooms to too much light that they will in fact shrivel up and die. The best way to extend the life of a good mushroom is to keep it in the dark and feed it copious amounts of Sh-t.. (please swap investors for mushrooms in preceding paragraph)

cheer up everybody!