"As noted in SER’s 2010 Annual Report, U Energy Pty Ltd, a...

"As noted in SER’s 2010 Annual Report, U Energy Pty Ltd, a company associated with SER’s Managing Director, has advised that on 10 August 2010 it completed the acquisition of Minotaur Exploration Limited’s interest in EL3538 – Myall Creek (50%). During the December quarter U Energy Pty Ltd was sold to a public company Fleurieu Mines NL. SER’s Mr Muzzin is no longer a director of U Energy, but is a director and shareholder in Fleurieu Mines NL."