Ann: Bullseye Prospect Sale of 8% Working Interes, page-25

re: Ann: Bullseye Prospect Sale of 8% Working... Hi Sentia

Doing some very basic maths on this deal and it does not add up.

Say QPN paid US $600,000 for their interest, this deal is for 8 percent so at least US900.000 without the cost overruns to consider. Now what about Jumonville 1, how does the cost of drilling this well and bringing it onto production equate to a figure about US $500.000. Remember ther eis no risk associated in Junonville 1 as it is producing.

I think the deal is a bad one for GGP holders, and I can only imagine they are desperate for cash, even though they just raised a pile recently.