re: looking good

News that the hydrate issue has been solved & that gas flows
are slowly rising, as predicted, to 20mcf/day is two to three weeks away.

Since the start of this financial year, the Australian dollar has fallen sharply against the US dollar, which is a positive for us in terms of converting our results into our reporting currency.

Seasonally impacted Henry Hub gas prices are presently around $US6-50 per mcf, down from around $US13 per mcf during the peak of the past northern hemisphere winter.

20mcf/day X 365 X (say)US$5 = US$35 million = A$55 million.