response from head office, page-21

I think the whole legal issue is barking up the wrong tree as far as lack of announcements go. The belief I am forming is that the company is not overly concerned with the legal issue and are just moving ahead, business as usual. They are encountering typical O&G technical complications that is expected for a company starting up in a new play. There will be fraccing commencing on two wells after the 30th March and fluid unloading after this. Unloading can take 4-6 weeks and therefore will not be getting any IP on these wells. Hence, no news on wells SRH 2 and SRH 4 production for 1-2 months. Also appears that the first well is more important at the moment for providing critical well and interval information rather than placing into production. Finally, SRH 3 will be first into production and unloading will continue for a couple weeks. The company is experiencing bona fide delays and the company appears to be vigilant in respect to getting things right. I prefer not to speculate on the legal issues without seeing the fine print first but I am quite certain that no injuction exists that prevents company activity at the moment. That would have to be reported. Therefor, anybody interested in JV with GGP will also be waiting until this time. Personally I am not expecting any flood of company changing news for a few weeks, if not months.

But I would love all the cards on the table this week.