Ann: Philippines Drilling - Jacob-1 Update , page-37

From Dennis today

Hi Sue,

The Jacob-1 results have been disappointing – we are still evaluating the well and we will have a better idea once that has been completed - part of that process is the running of down-hole electric wireline logs.

I think it is important to any Gas2Grid shareholder or potential investor to realise that the current drilling/workover program is not a one shot deal. We still have 2 exploration wildcat wells to drill and a workover of an existing discovery well to complete. Conventional oil and gas exploration drilling is a high risk but potentially high reward process and movements in share price variations reflect that. We are seeking success by way of a commercial oil or gas discovery the value of which will securely underpin a long term, higher share price.



Best regards,



Dennis.