agm. anyone go?, page-2

In summarising the AGM;

Ian Paton and Kane Marshall are a very professional team. They have the experience and have a very clear direction for the company and are highly focused. I was very impressed with KMs presentation. Clear direction meaning oil focused not gas focused unless easily exploited, looking for an early return on drilling or opportunities that present oil drilling opportunities in the short term. Also they want to have the control over their projects, ie operators, so increasing the percentage in their tenements and now divested of overseas minor positions.

This year was described as a foundation year and 2014 capitalising on the fundamentals from 2013.There is, reading between the lines a lot going on in the background that has not been announced to the market, probably not finalised, was described as undervalued, and anticipated announcements in the new year that would add shareholder value.

The rest everyone can read in the presentation. Added comments to the presentation, EP438 has been downgraded with the disappointed of Cyrene 1, but offsetting this is the upgrading of EP448 with the shallow oil prospects.