ann, page-8

Hi All, no surprises here for me. My numbers are very close and this gives me confidence in my analysis and also with the management team and their efforts which I believe are outstanding.

Key points:
1. Delivered a clean positive bottom line as expected $1.5m
2. Net Assets $18.2m supporting a share price of around 0.025 cents per share.
3. Share buyback 10.5m shares and over 650 holders which was average of 16k each.
4. For future "The Company, with its partners, is assessing the potential for further development well."
5. Report was early which may clear the way for other updates/news in March
6. Most exciting and reinforcing point 2 is found in notes 6a and 6b

6b: Oil and gas properties which are Dugas, Desire and Abita - Carrying value is $4.8m whilst the NPV of cashflow is around $13m which suggests these are undervalued by factor of about 3

6a: Oil and Gas exploration expenditures which include West Klondike and the Napville 3D Seismic plus other Napville field expenditure and most probably Louise - Carrying value is #10.6m whilst NPV of cashflow on Louise & West Klondike alone could be around $6m with potentially many more to come in the future.

Much to look forward to also and all delivered whilst managing a significant environmental issue in the region.

Well done to GGE mgt and also you folks for hanging on.

All opinion only. DYOR and remember whilst past numbers may be good they do not predict the future and care should always be taken when managing personal risk.

Cheers and GLTA

PS a bedtime story whilst we wait:
http://bacon85golf.wordpress.com/2013/01/18/the-true-moral-of-the-storyline-of-three-little-pigs/