Ann: OEL: Winx-1 Drilling Update, page-33

I urge any of you to contact Dave as he responded within 10 minutes of me emailing him this morning.

feeling slightly better after reading, gut pain went from a 9 back to a 7

daves reply below

""Icewine and Winxare completely independent of each other. Winx only 5% of the potential atIcewine (and that is just the conventional) and different play types.

In industry, we arefar from tarnished as the nature of exploration is well understood and ouroperational performance and level of activity is akin to a much larger companywith many more personnel.

We always said thatthis was 25-30% chance of success so beying for blood is clearly based on pureemotion and no logic / reason.

As far as dilutiongoes, if we did not raise money then we would be doing nothing as there wouldbe no funds for activity. You can’t have it both ways.

Oil and gas is atough game – for investors too, even if some have fooled themselves otherwise.

It is disappointingbut we move on – bigger fish to fry.""