Ann: Appointment of Chairman , page-4

sleeping giant, Patiencel.

Dis; momentum seems to be building again for a very solid 2H;
- potential purchase of RFE acreage
- Convertible notes maturity = $$ in the bank + funds that have been placed aside for the notes. double win
- gas infrastructure to come on line in May, with benefit of increased BOEPD to reflect in June
- RBL in July/August
- New board = renewed focus. Ptolemy want a return on their money, same as us shareholders
- solid production numbers. peaked at 1,208 in March - my guess is that was towards the end & was a result of Range horizontal
- well funded - $15.9M cash at end March

Seems all will hit around June/July. will be adding to my holding over the next few weeks. 0.17 seems like futile resistance with upcoming announcements/results.