response from head office, page-18

I think we might be making a mountain out of a molehill; firstly GGP's legal people are quite confident that GGP are in a sound legal position and that they indemnified.

Secondly, GGP would not have started any developement activity if there was any doubt hovering over the leases,that just wouldn't make sense.

Thirdly, no third party oil & gas company would be currently negotiating with GGP if there was any doubt over the leases.

Fourthly, the recent spp wold not have been so oversubscribed by indormed institutional/sophisticated investors - and where the sp has stayed relatively boyant - if there was any legal doubt.

So all the facts and circumstantial evidence points to the probability that everything is like GGP have been stating - that they are in a very sound legal position but are guaranteeing eveything by dotting the i's and crossing the t's - and that maybe this third party knows this as well and is just bluffing and hoping that GGP will blink first before they have to fold, and before they need to waste any legal fees they can't afford in a case they know they won't win.

So let's relax, SG is in charge, and just maybe he knows what he is doing.

Good Luck to all holders.