future exploration, page-24

re: tree shaking Whooa there.. accordding to last report [LIO]

June 2006 crude oil production was 178,278 barrels of
crude oil at an average daily rate of 5,943 barrels per day, demonstrating the effect of production from the Oseil-11 well, which came on line on June 12th 2006.
Hence only 19 days of Oseil-11 production included in this figure.

During the [June] quarter crude oil production from the Seram (Non-Bula) Block PSC was 446,270 barrels of crude oil (compared to 336,035 barrels of crude oil for the previous quarter)

Using an average daily rate of 6,000 [est] barrels per day
Sept 06 quarter could be [92 days x 6,000] = 552,000

Mar 06 336,035 [reported]
Jun 06 446,270 [reported]
Sep 06 552,000 [estimate]

At least we are moving in the right direction??

Additionally a small holding of ETE with Gulf of Mexico prospects.

Current working interests in production with good exploration potential.....

My 2 cent worth......