Ann: December 2014 Quarterly Report, page-8

R15, MF will do a good job wherever he goes IMO. We have a good team at GGE and enough evidence in the quarterly and prior ann to show the team is well ahead of most. Imo the plan was conceived years ago and we are just slowly following the plan, ticking boxes along the way.

Highlights:

• Desiree: "at the presently depressed oil price of $49/bbl will generate revenues of US$160,000 per month (after royalties and operative costs), or US$2.0 million per annum.
• D&L3: "at the presently depressed oil price of $49/bbl will generate revenues of US$60,000 – per month (after royalties and operative costs), or US$720,00 pa.
• The Company is well placed moving forward with sufficient capital, along with surplus revenue we will be looking to capitalize on low oil prices with the acquisition of oil production and reserves.

Re GGP they did well to get out of oil and reinvent themselves. At low prices they would be totally stuffed now and if people review 5 years cashflow and compare to some peers will see they had actually done better than some more popular stocks and definitely better than they have been given credit for with their acquisitions.

That'll do, hope things are going well for you
Cheers