results of the agm

Hey all,

I just went to the AGM only caught the end of it but had a talk with a couple of the directors when the meeting finished. From what they told me and from what was mentioned at the AGM that they have been processing through a lot of deals not only oil but also coal, gas and oil deals and also gold.

I asked him when the ISIS report would be finished and they also mentioned in the AGM meeting that the results are likely to be due mid novemeber but they have taken longer than expected (maybe mid to end of novemeber i suspect) he then said depending on that they would look at what the options they had on the table.

I asked what the likely hood of beginning a drilling campaign and going into production would be if the results were good and he said they would only be considering drilling at the end of next year.

The options seem open to the company at the moment and they explained that they are trying to find a deal that will provide good growth opportunities and minimal costs, the west african tenements that were abandoned were to costly and as mentioned from an attendee of the meeting a recent drillling of this area (north of BKP'd old tenement) cost about 1.5million for a shallow well to be drilled!

From what i could gather it seems like they have had a lot of deals coming in and are trying to pick the best one for them as they want to expand the assets from not only the georgian basin play. I am a long term holder anyway and look forward to what deals are likely to be presented in the future :)