Ann: Half Year Accounts , page-3

I emailed Dennis this - this morning - he came back with the following reply.

Dennis this is concerning:Significant factors regarding the ongoing viability of operations.
Running out of money - should all shareholders just get out.?

You also lent money to the business not a great story
Regards Sue

Dennis reply

Sue,

Small cap ASX listed companies raise money as and when required and they always try to do it at the highest price possible. Gas2Grid is working over and testing the Malolos-1 well and we are hopeful that both oil and gas will be produced from that well over the next 4-6 weeks. If the well does have a successful test then it will be able to raise new capital at prices higher than it could at the present time.



If you look back over the last 3-4 years you will see that I have lent money to the Company before – as a shareholder you should see that as a good thing for several reasons including executive managements faith in the Company assets and the willingness to always raise capital at the highest possible price, which is in the interest of ALL shareholders.



If you look at all ASX listed companies you will see that most companies are not financially supported by their Board and in many cases Directors do not own any shares or the only shares that they own have been given to them by the company. Gas2Grid’s Board not only supports the company financially but also the Directors and management do not take out high salaries (payments taken as shares) or treat it as a lifestyle source.



In summary, Gas2Grid limited is a company fully supported by its Board which shareholders should be very happy about.



Regards,



Dennis.