looking to move higher, page-40

rock86,
Reporting requirements in the U.S. are very different to those in Australia. In the U.S. they have the concept of "tight hole". It is driven very much by the landholding and leasing arrangements, which are very different to Australia. Every joint venture in the U.S. that Australian companies participate in runs into the same problem. Our continuous disclosure rules drive the U.S. companies mad. It leads to many arguments among joint venture partners.