Ann: ACTIVITY UPDATE SENT TO SHAREHOLDERS , page-3

I agree Stonemason. FY2012 down on what could have been, but it appears that the revenues have shifted to FY13 not been lost. They will hit the ground running in FY13 and given work secured, and high level of tenders continuing, looks like next year will see a big uplift. Some encouraging comments re won all tenders, and also being awarded the Yallourn Energy emergency pumping work. Seems that RQL are the go to / can deliver guys on any water disaster front (recall they helped with Japanese nuclear reactor disaster as well).

Notwithstanding the strong outlook I was disappointed with result. Disappointed but not surprised given the general level of hesitancy within the mining services industry. I remain confident on the management front.

Was pleased to see company noting their strengths within sector, i.e. mission critical, servicing producers not explorers, recurring revenues etc etc. I look forward to the full year results release, not for the result but for the outlook statement, and hopefully communication of a divi policy going forward.

Patience will be rewarded.