PEX - time to buy, page-112

The Wirlong drill results that we will soon be "chewing on" will be interesting to say the least. It could be anything from promising to spectacular in my view - there is a reletively low risk of disappointment. If the results disappoint the share price drops to 10-12 cents. If they are promising the share price stays where it is. If the results improve on what has already been intersected at Wirlong then the sp goes to 20-25 cents and beyond. Then there is MB/T1.

I haven't spoken to Rob Tyson for 8 weeks or more. I have previously (on more than one occasion) expressed to him my frustration with CBH. In his position he obviously has to be very diplomatic. He has never been critical of CBH in his conversations with me but I think it is fair to say that he would have preferred shorter intervals in between drill programs at MB/T1. That's the nature of JV's - you have to get along I suppose. However you also have to advance the project if targets are begging to be drilled and shareholders are wanting some action. I have never sold a single share in PEX And have ploughed a considerable sum of money (in dozens of transactions over the past 4 years) in support of the work that Rob and his team are doing at MB and the Cobar Superbasin project. Through a close associate who also has a JV with CBH in a neighboring tenement I am aware of some questionable decisions by the CBH exploration outfit and it needs to be said that they should not be calling the shots at MB. All IMO of course.