Ann: Quarterly Activities Report, page-9

Anything is possible given the right circumstances.

I once saw BHP correct / crash from over $24 to around $1. Pessimism was that bad at the time.

Lets not forget Peel went from $0.70 down to $0.052 over the course of about 18 months. Circumstances were very different at the time to those of now. Eg insto's selling out at any price, no discovery of southern nights at that time, l0wer commodity prices etc.

Do i think it is likely that it will revert to $0.45 in the current correction ? IMO on the balance of probability, NO !

But one thing i've learnt in over 35 years in the market is that i'm always being surprised & learning something new. Also never say never it cant happen.

If it does go to $0.45 or lower i will be in there boots & all buying as many as i can afford. Because the drilling continues to add value.