Ann: Cyrene-1 Update of EP438 Activities , page-21

Slampoil,

It is a smaller rig and maybe there are risks involved with it if the drilling becomes difficult,but there is a substantial cost saving and in these tight capital markets,the money that has been raised is trying to be conserved.There has been a number of postings in the past that have been critical of the KEY management for placement at such a low price and of the ability of management to contain costs.

So what do you want to do put in the newest drilling rig,the best of the best breed and use up the shareholders money.As I have previously said you have no idea.Give the management a chance,they are the experts and know best until proven otherwise.Listening to what you say is a case of dammed if they do and dammed if they dont.

In relation to the rig,the rig is ready but it awaiting final Government approval.It has not been mobilised yet again to save costs which you seem to object to.