Ann: Extension of Share Purchase Plan Closing Dat, page-28

re: Ann: Extension of Share Purchase Plan Clo... Pivotal moment alright.

A further delay will totally confirm a major obstacle has been hit.

Maybe there is added uncertainty as to whether the project is within Philippines waters / jurisdiction???

There is plenty more oil in that same sea region which about 4 countries including China have laid claim for.

Also the financiers know they have Raisama in a very tight box with the 23 June final deadline. Raisama will not be dictating the terms of any financing deals, although they could be shopping around.

Its a two horse race - thoroughbred Windfall or the nag Substantial Loss