stake in escrow until 2009, page-2

shareguy

I don't think so....here's part of the release from HGO regarding taking up shares in the ESG placement:

Hillgrove Resources Limited (ASX:HGO) is pleased to advise that it has participated in
Eastern Star Gas Limited’s (ESG) $25.85 million share placement. Hillgrove subscribed for
18.82 million ESG placement shares at 42.5 cents each for a total of $8 million in cash.
At the same time, Hillgrove exercised 3.3 million zero coupon converting notes providing it
with a 22.9% interest in voting shares. Hillgrove’s fully diluted interest in ESG is now 25.7%.
Once these shares are issued Hillgrove will hold 153.2 million ESG voting shares (ESG total
671.6M shares on issue), 3.54 million zero coupon converting notes and 24.25 million three
year ESG options exercisable at 15 cents each. All securities, other than those purchased on
market (2.1M) and in the placement (18.8M) are the subject of a restriction agreement until
30 October 2007 pursuant to the Listing Rules of the Australian Stock Exchange.

Shareguy NOTE: Last sentence.

H