Ann: Cooper Basin Update, page-7

Another smart play by ID on 2 grounds. One is to get the 3D to increase chance of success and the second itsto increase the stake from 50% to 57% . Now having the majority in the permit and operator ship. Senex has an enormous acreage position in the CB which I believe both Beach and Santos are likely to be interested in. Additionally if Strike energy can get their Deep Coal to prove economical in PEL 96 , Senex additionally have heaps and heaps of deep coals throughout their CB permits which too, may prove economical for extracting GAS as the technology improves. As Tui always mentions the re value of Senex is in its long term GAS potential, and as prices of domestic gas increase and gas shortage develop for Gladstone, Senex are in a great position which as mentioned Beach and or Santos will be interested in. So 2015 could well be our year. GLTA long term holders in Senex. My call for 2015 is ID will welcome a key investor and or farm in partner to overcome Senex cash position needed for future gas development in Hornet and Vanessa as well as the Surat CSG permits, which in my opinion could / should add SH value as more 2P comes onto the balance sheet.