600 million , page-24

All,

I have inserted the email response from Dennis Morton which I received this morning. As we would all expect nothing material to the announcements but a little additional clarity;

My Q; Can you please quantify what revenue will be generated after costs to offset the additional testing programs you are proposing? Clearly the current cash position without a Farm-in partner is a major concern for all shareholders and may explain (partly) the selling pressure on the shares experienced today.

Response

The extended production test will establish the longer term oil production rate from each sandstone reservoir – from technical information gathered to date we expect somewhere between 50-200 bopd from each of the two intervals. We have stated in several ASX releases that we are actively pursuing a farmin partner and we are confident that we will find one but the unknown is timing.

Q - Can you please confirm that progressions are still progressing with interested parties and comment on how important the Reserves upgrade will be to potential farm-in partners.

Response

Confirmed – establishing such large prospective oil numbers greatly assists that process.

Comment

>>Suggest prudent that the market would appreciate a material update on the process to-date and likely timeline for conclusion.

Response

We will advise the market when we have something material to announce.

Regards

GLTAH