Hi all,With our latest update, I think we can find some comfort...

Hi all,

With our latest update, I think we can find some comfort that things are progressing.

Why update us:
1. Given they have held news close to their chests to date, and understanding the delays
2. Shareholders annoying Jonathon for information ..they felt obliged to?
3. We ARE VERY close, and the update was now necessary?

Land Purchase: (Thanks Reichman & Kiril):
Yes, this does change the known game-plan somewhat...and for the better, I agree.
Purchasing instead of leasing the land will no doubt make further drilling of Prabu 2 & 3 (my names) much more time friendly. Taking that the "drill site" for Prabu 1 is on the proximate to the three identified sub-basins indicates to me that this will be the base for our South Sumatera operations, for all prospective drilling ahead. If I have interpreted this correctly, we could be in for some intense (one, two and three drills in very quick succession)
Purchasing the Land for a potential 2-3 week drill seems to indicate Management has further plans here?

Things asking myself:
1. How much land did we buy?
2. How much did, and how did/do we pay for it?
3. Is there a sell back clause?
4. Have we brought a few square metres of land (we still need to trample over the outer areas to get to our patch), in the middle of a paddock, hence why we still need the LAA, of is the LAA a government "drilling operations" requirement, not a Land Owners permission requirement?

The DRILLING:
I note that the terminology here is also very positive, albeit we have had this terminology before.

1. "Conclude tenure of site purchase **imminently** to facilitate final LAA being signed".
2. Drilling Rig negotiations, to finalize and execute the Drilling Rig HAVE recommenced. I hope this contract(s) covers off the 3 initial drill options.
3. Quick succession for drilling Prabu 2 & 3 on interpretation of Prabu 1 drill results....But this might change priority to "production focus", but guess that's why we are heavily weighted with the right people at this time.

Share Issued:
1. A bit vague. Only some 4 million, for Investor Relations and Promotional Services - For the value I'd think that this might be for the new website as pointed out by Akljames.
2. Is this something to do with potential Moyes & Co initiatives?
3. Was this how the Land for Ranau drilling was purchased, or for the liaisons that assisted us to purchase the land?

Management Operations:
I am thinking that Management have so much on their plates at the moment that things are very busy.

1. Getting Ranau to a reality,
2. Progressing Moyes & Co initiatives _ Not sure on whether anything has come of our relationship with Moyes & Co. Nothing heard for a long time.
3. Further acquisitions?

Anthony Milewski statement:
I recommend that we all read this part again.

It would seem a little premature to be thanking us for our patience over the last few months and having visibility of commencement of drilling, if we weren't VERY CLOSE.
Just sounds imminent again :)
Just does not sound like we have more months of waiting...

I expect the next announcement to be what we have all been waiting for, and expect it either today, or next week at the latest...(maybe wishful thinking, but that's my take)

I shall finish with a reminder of the target potential for

PRABU 1 = 59 mmbbl or 340BCF Gas

Combined 16 Leads for Ranau = 300 mmbbls and/or 6TCF of Gas.



To live the dream, you need to know what the dream is :)