Ann: Quarterly Activities Report & Appendix 5B fo, page-8

re: Ann: Quarterly Activities Report & Append... There have been now 200 million shares change hands from the 25/2/2013 until the present, at the closing days prices of between 1.6 cents and briefly the low 0.6 cent. This very large base will imho prevent further losses to the sp

The shares are illiquid just like most other small companies. In this bear market if you are prepared to wait someone will sell down to you and when it turns it will have a good run.

I have been averaging down line with the dilution that has been going on.

I would not have done this if I did not believe in the management.The management have been caught out in a bear market while trying to execute a clear strategy.

They have now control over the operatorship of all tenements and able to call the shots which should be
beneficial for all shareholders. They have positioned themselves to farm out tenements on a free carried basis.

If they can bring in a farmin partner on EP448 so that 3 onshore wells are drilled this year, on their tenements that would be huge.I think EP448 is especially interesting as they have surface gas readings, shallow prospects and the expertise to back their understanding of the prospects( see web site under expertise).The expertise was vital and necessary to give the full weight behind the farm out process to farm out this remote area. Wildcat wells are very exciting, all petroleum geologists dream about oil discoveries in unknown places and nowadays there are very few of those left.