update out!, page-20

lukehadji, there is no doubt in our minds that the selling down under 40c occurred due to the placement at 37c.

Who will want to buy up to 40c is your concern?
Well it hit 56c before any production was announced and we have found out there will be another 2 wells drilled in the same area where we are currently producing and similar flow rates are expected.

We know they are drilling a development well elsewhere (sorry it's late and I couldn't be bothered looking up the name) and any new find here will be positive for the shareprice.

You say the drilling didn't cause the prices to go any higher? well it did initially and then there were sellers appearing around 34c which has been the norm. It will take 5 months to drill the well but we should have some progress reports along the way to stimulate the shareprice.

I think we need this placement period to pass and then we shall see what happens. The company gave us an update on 28/04/2011 and it looks very promising. Now many want to see a Resource Statement, yet you have management wanting to drill another 2 wells in the same structure, so what does that tell you?