Ann: Sugarloaf Operations Update , page-18

Wise words Esteon

in relation to value yes ADI and EKA might rise % wise in interum, but they risk placing no value on Longhorn and Ipenema, and I see many many ADI investors looking to jump across to AUT to take advantage of the higher interest wells at LH and IP on a free carried basis.

As far as $1 by xmas, if all goes well, i have it at about $1.38 if all new wells are as good as average of kennedy and weston to date. Thats with Kowalick non functional and 50% WInt in the LH IP wells.

If they botch 1 of the higher interest wells at LH or IP, then i have it at 99c.

Forward projections based on AUT presentation, i have end of 2011 at $2.76 target and end of 2012 at $5.53 target. As my calculated price targets. However the above assumes very little decline and ability to drill from current capital and future cash flow. Even at 50% of that at say $1.37 and $2.77 its reasonable return imo.

Definitely DYOR and seek advice, dont act on my calcs. Its just the way i see it. I own and have vested interest.