Ann: Capital Raising Placement , page-8

Hi Wayword,

I agree, the new CEO has just started and seems to be righting the ship first by getting the cash position up and expenses reigned in. He is obviously well aware of Shareholder sentiment as far as CR's are concerned as this latest one is very small.

Grieve and Ash Creek should be pumping within a year and now is the time to start expanding our lease holdings, finding new sources of CO2 and acquiring some similar fields as Grieve. These things take a long time to come to fruition but are necessary to move us to the next level and of course they need cash which we don't have a lot of at the moment.

I am sure we will be getting some news on the deals that they are working on soon which will really push the share price closer to his incentive numbers.

All looks good to me from here.