**to close under 80 cents tonight**, page-13

latest substantial holder notice Ron Prefontaine sold 250 000 shares on about 8 September 2004, at a price of about 66 cents.

Now, he's still got about 3 million of the little buggers, so he isnt exactly bailing on the company.

But he did sell down.

OK, so who's Ron Prefontaine, apart from an Oilex director ?

For my money, he's one of the best oil exploration geologists working in Australia. I saw the geo work on 104, 111 and 115, and I'll listen carefully to anything he has to say.

As far as what this implies for his judgement about Rookwood, I think you can follow the money pretty easily.

Ian Whitchurch