.55 interst in 200mbo prospect early april, page-14

Share price is at the same level as a mid 2007 placement....most of the proceeds from the placement came from New Zealand.

David Munns advised that kiwi invesors wanted more at the 6 cents....(IE at time of the fund raising) then company were prepard to offer. Since then oil price has gone up 30% and prospects in the Phillipines are xciting .......so a second opportunitye now to get set, prior to drilling, at near intra year share price lows.

Hard for kiwi invesors to get real leverage on homesoil projects.....but this certainily is an opportunity. Potential therefore for SP buying from from aussie and New Zealand investors (not normally the case with most stocks listed on the local bourse).

The new jack up rig is actually owned by Green Gates Stacey Radford (GGX farm in partner at this forthcoming drill).....at a drill cost of only $500,000 obviously many options would open up should they strike hydrocarbons.

Worth noting also share price ran up to 15 cents on heavy trading just prior to the SPP......stock has been slow lately, but we know from previous activity, that investors are aware of the company, and at these levels a few weeks prior to the drill.....likely to trade significantly higher from here.