Ann: Trading Halt, page-19

I would like to share to ease some concerns

All going well I would suspect the company flow rate announcement tomorrow.

The following are Answers to my questions put to COE this afternoon and I thank Don for his prompt response.

Today’s trading halt was requested as the company took the view that , with the Sole-3 flowback having commenced yesterday, the company was in possession of information which could be considered share price sensitive but which it was not yet in a position to announce. Furthermore the commencement of the test was unlikely to remain undisclosed given the visibility of flare operations. The test is due to conclude later this afternoon.

Ocean Monarch Sole 4

Accordingly the rig is still on location at Sole-3 and is expected to return to Sole-4 once well suspension operations are concluded. That is expected to be in a matter of days.

In respect of progress against budget the company is planning to provide an update in its forthcoming quarterly report which is expected to be released on or around Monday 16 July. What I can say at this juncture is that the delay to the completion of Sole-3 does not cause delay in project schedule as the next offshore operation, the pipelay and connection of wells is not expected until the September quarter. In terms of the overall project schedule, the critical path to the June 19 completion date is the completion of the plant upgrade being undertaken by owner APA Group.