thursday, page-34

Disappointed - Yes

However, there are many positives to take away from the report.

> Water not an issue for future wells as they can be designed to handle the water so as to not inhibit flow rates.

> confirmation that fracture stimulation can liberate potentially commercial quantities of gas

> large areas of the field appear unaffected by existing fault structures and the future evaluation work will now be focussed on these areas

> Work is continuing on development of the field.

> TSV is free carried for the first 40m of expenditure - cash burn rate is slow - expect this well has cost them around 12m - would like to get some numbers from the company on this.

> Would like to see some numbers regarding the flow rates from zones 7 & 8


Just a matter of when not if, IMO. Will be interesting tomorrow. Good Luck to holders. Would have liked the results to better position the business and generate more interest, but the fundamentals have not changed.