Ann: Quarterly Activities and Cash Flow Reports, page-13

Getting a partner, the slow demise of most oil penny specs. While it would be good to see a company like this do well in Phil especially in Cebu which would be great for local jobs and industry though the chance of success here is extremely low.

I've lived in Cebu for 15 years off and on normally staying there six months at a time and know the place very well also have property investments and small business interests in Cebu and Dumaguete. I have a local investment partner who attends Cebu chamber of commerce meetings on a regular basis on my behalf at times and will be attending their next conference in June, I'll bring up Olango and Malolos see what response it gets from those with local O&G knowledge.

My feeling is that if there was any hint of oil there in any worthwhile quantity and pressure that local oil companies would of already drilled it, especially a onshore find close to infrastructure.

But you never know, so worth investigating further. Good Luck All.


Cheers,
Kat.