tz, page-51

Hi all,

With regards to the up take of rights I am not going ahead as I have lost trust with the board.

However in going forward I will vote against this rights issue as it is over the 15% corporate ruling and needs shareholder approval.

I have no trust going forward and as much as I would like to take this up I just can't and can no longer trust this board going forward.

In terms of looking forward we can look at it either 2 ways. They fail badly on this raising and the WA well finds nothing but sand and falls to 1c

or

The board pulls its finger out finds oil in WA and the stock flies to over 20-30c hmmmmmm big ask considering the dilution of current rights but can be possible lets see.

Either or only thing I miss out on is upside on taking advantage of rights to hedge down.

Lets just hope board pulls this thru and proves us all wrong if not a 242d should be done again and completley remove this board before voluntary admistration.