Ann: Notice of General Meeting/Proxy Form, page-6

Ex, I agree with you.

Dave has +32 million shares, 60 million options, a base salary of $400k per year, which last year netted him, an all up package of $959,270.

If he is not highly incentivised already, well, as a shareholders do we just approve more?

What has been achieved for shareholders in the last 2 years? Drilled one well, flow tested twice for no result, bought more land, no value created for shareholders, extensive and state of the art 3D to western leases, massive increase in identified targets, no shareholder value created.

For a small company that appears to have achieved so much they have created very little in recent time for shareholders, mostly due to the HRZ admittedly. Now with the allure of the conventional on the horizon, we are asked to start fresh with a new batch of incentives.

We got to 8c on the sight of a drill rig at Icewine 1, the market demands more now, not just a glossy Investor Presentation every 6 months.

Maybe I'll calm down after London and reassess my view, not holding my breath on this though..

Cheers happy Friday all.