resolution 3 voted in and approved rrso , page-13

Arch do you still have any of the 2007 options?

Anyone that does (I do) will hopefully realise that very little has changed except that we will be paying 1 cent extra on our original purchase price. They can't be traded but if the RRS share price rises above $1 and investors don't have the funds to exercise them all at once then they can always do it in small parcels, sell and then excercise another parcel.

Our expectations were that the share price would be well above $1 on 1 October 2007, however, that did not eventuate. We have now been given another 12 months for it to happen, so effectively we are in the same position that we were in November 2006, except that the expected commencement of drilling is much closer.

At the moment there is very little demand for the shares but that will all change as we get confirmation of spud dates and on actual spudding. No price predictions from me as the market will put a price on RRS just as they are doing now. I know for sure though that when the bit hits the ground the share price will not be at today's levels.

I wonder whether the downrampers will still be here when it happens.

Good luck all.