Ann: AGM Presentation to Shareholders, page-5

Dis, standard AGM, Richard could be a little more enthusiastic. Was disappointed that Mr Stone didn't speak.

- they have at least 3 RBL offers tabled, but don't want the terms to be dictated to them. They have enough cash (current burn rate is about $1.5M/month) so they will hold out. My guess is if they do, it won't be till early next year.
- massive back log of wells they expect to be on line by EOY. Apparently a 3rd party built a gas line early this year but they reached capacity and then were forced to build their own gas line.
- still targeting 1,600 BOE for exit 2014. Richard didn't move on that, but we all know that's very conservative.

Pushed my expectations out to Christmas, happy to hold till then. Building some good momentum for a strong 2H. Wouldn't be surprised with $0.35 by EOY