perspective, not an excuse, page-2

Hi,

I will not comment further on mistakes and achievements of the previous management team but I definitely agree with you, Dex, on what needs to be done to get this company back to previous highs:
1/ restructuring the debt without massively diluting existing shareholders
2/ bringing additional expertise to the table with JV partners and possibly additional exploration expertise
3/ acquiring additional permits in the surrounding areas
4/ proving some contingent resources into 2P/3P's.

In terms of timing, I will give the new management till the end of September to achieve some of these steps because I don't see any auditing firm signing off the accounts if no binding agreement is in place to restructure the debt.

So I guess we won't have to wait another 6 months to know if the new team manages to get the cheese!!

Bart