Dear Shareholder, The dictionary definition of patience is �The ability to endure waiting, delay, or provocation without becoming annoyed or upset, or to persevere calmly when faced with difficulties�. Surely 2010 will go down in our Company�s history as a year when all of the above was required. What started out so promisingly with the continued strong performance of our Growler Field and the commencement of production from the Snatcher Field in late 2009, was brought to a halt by the major flooding event in February 2010 that cut off access to the Western Oil Fairway and continues to do so. On current indications, we do not expect to regain access to the fields until the first quarter of 2011. The flooding event is probably the worst in Central Australia since the record 1974 floods and represents a significant boon to everyone in the community but Western Oil Fairway oil producers! Notwithstanding this, the aphorism �patience is a virtue but waiting is torture� also applies to us as there is a great program in store for Impress once we get back to doing our business:
ITC Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
