Ann: Investor Roadshow Presentation, page-107

No argument from me BW, I don't have any problem with hem looking outside of the Cooper. I just think any carve up of the Cooper could really be at great discounts so that might be a better option at this time. I don't see there being much competition for the assets either given the weakness of many of the players and the broadly held view that the Cooper is a declining basin.

Auto, your comparison with NST is a good one. NST management were all very familiar with what they were acquiring having worked as a specialist underground mining contractors. DLS should be in the same position given their knowledge of the Cooper.

NST's also been my most successful investment in the last year so let's hope it plays out the same!