rc quote from agm

This enabled the Company to
progress its projects despite challenging market conditions and avoid shareholder dilution. Your
Management will work hard and well to survive this climate and a bright future now beckons once
the Halcon drilling occurs and the Niobrara development programme is completed. To enable the
efficient development of Niobara, the company has secured an option to defer the drilling of Niobara
wells until after the pipeline is completed

I wish to assure our owners (the shareholders) that your Board remains focussed on creating
shareholder wealth and will diligently pursue every opportunity that presents itself in its endeavour
to create such wealth

Hopefully this year will see the harvesting of the fruit from the seeds planted in the last 18 months,
with commensurate rewards for our patient shareholders