Ann: Trading Halt, page-49

Answer 1. If I were a tier 1 and 88E has as much good black stuff that is purported I would corporate raid the bejusus out of them given the languishing sp. An AUD $50 or so million spend would get them close to majority shareholder.

Given DW's rhetoric that we have a farmin deal by the end of this year, he either believes it 100% or not, why else would you state it.

I would have been happy with the support shown for additional shares by long term holders. I would have realised that the rest of the market didn't view us as a good investment at that time. However as the boss I would have done my job, rallied the insto's or directors to ascertain whether they will be taking the extra's. Given our trading over the past few weeks we can safely assume nobody wanted them, why would they when they could have bought on market at the same price. At that I would have put the additional placement to bed, not left it hanging until January 2019. As far as I am aware we are not obligated to release the additional placement if we don't see fit.

I would back myself, my ability to negotiate cash upfront terms on the farmin to cover the costs required for next years drilling. I would then release the additional resources statement on the ASX without a paid advertisement. Thus sending a clear message to existing holders (thank you for believing in us), our new farmin partner (your doing business with a multifaceted organisation) and the insto's that didn't take up the placement offer that I am making s*** happen. Who knows where the SP would have gone if we didn't put a trading halt on.