Ann: Non-Renounceable Rights Issue, page-87

"Designed to allow existing shareholders exposure to potentially transformational activity over the next 9 months."

I am going to be backing 88E management over these next nine months during what they say to be potentially transformational activity. I will take up my full allocation in the rights issue. I am underwater right now, but happy to take my average down.

From what I gather in the next 9 months which the latest announcement refers to; we can expect the following =

* Tier one farm out on conventional

* A second farm out on the unconventional

* Rig mobilisation and drilling result on Western Blocks (WINX-1)

* 3D evaluation on the YUKON LEASES

If and it is a big, IF, those 4 points all are announced with positive results then 1.8c rights issue will be a bargain. But it is down to each individual to decide if they want to back the management to deliver on the above in these next 9 months.