Ann: June 2012 Quarterly Activities Report , page-2

Hopefully drilling in Toondulya starts soon.

Looks like they have intersected some promising formations in the intercept hill drill. Guess will see with assays.

The Pantheon invetment might bring a little attention to the stock in the near future:

? The JV’s Woodbine target is a gas condensate play. This makes it correlated to the oil price as the associated liquids usually trade at par or a premium to the crude oil price.
? The JV believes its acreage may have the potential to host a similar size field to the AA Wells Woodbine field.
? Importantly, activity appears imminent with the planned Kara Farm #1 well to test the Woodbine expected to spud in 2012, possibly as early as September or October 2012.