Predicting its Low, page-10

It really depends, it's already gone down to 6c and bounced back up. It hasn't bounced back up to original
levels. If the POO keeps dropping (and I believe it will) and we get a few bad days on the ASX - 5-6c range. For the most part I think 7-8c range and then a slight increase to 10c before an ann - then it could go anywhere up to 35+c or depending on any future capital raising (and more importantly how long until we get another drill in the ground) it could flatline or go down.

It might sound unbelievable but I have witnessed companies announce amazing news such as 'we found heaps of oil and will start drilling in 12months!!' - and the SP tanks... because nothing is going to happen for 12months.

The other thing to consider is - even if they drill this year - when do they expect to start selling oil / making profits? if its 2-3 years down the track - some people won't care until then (until they start making money and getting rid of debt).

My point is - I am sure this is all amazing news but realistically it can take time to get the oil out of the ground and sell it.

Ele.