Ann: Non-Renounceable Rights Issue, page-7

Well OMG yes another bloody one, even after company said they wouldn't or need to do one. I always believed one was coming due to our cash balance. Some here criticised me for stating this and SP hitting 1.8. But I believed in the latest presentation that clearly stated one wasn't coming. OH well got caught out on this as I bought a heap at 2c and was still in que to purchase more. Amended all orders now.

Again bad timing, one thing the company is good at, as far as I am concerned. Why doesn't this company announce these diluting cap raises when the market got smashed after IW2 failure. It not good form saying to holders they won't be doing one as many holders have been buying since presentation. Personally I am a little PO in the short term as wasted extra funds buying.

This situation is great for LTH's who wish to average down and haven't been buying, but for me I am a little PO as boards publicly waste money with presentations, say one thing and do the opposite. Sorry to say this but this company is heading down the path of becoming one big life style company. Excessive rewards for directors when failing in drilling wells, SP always falling again and again holders have to fund a company that drills bugger all and with unacceptable drilling time frames. Note that money will go into admin costs which are ever increasing.

Could say a lot more but why bother!! No way I could support a yes vote. Extremely annoyed!!