Ann: Half Yearly Report and Accounts, page-13

You cannot escape the facts,that while GGX maybe contemplating production
the reality is on current dispatches,is that the US is in "glut' storage mode..and there is
more than enough oil in market..to warrant further declines in oil price..in
fact suggested price range could drop to around $20/BBL....

At end of day for shareholders, it depends on how long Directors are prepared to cover
ongoing operational costs...without any return.

Cheers,