Ann: Quarterly Activities Report, page-30

You should always have hopes. Whether you want to get your hopes up which indicates a different, higher level of hope is another matter. Just as there are different layers in the Earth's atmosphere I think you can say that there are different layers of hope out there.. I think my layer of hope is the ordinary , ground level type hope with my feet fairly firmly on the ground.
Certainly for me there are a few positives about the present situation, that if they come off, will certainly provide some sustained hope.
So what are the positives ?

• a potential arrangement with NEW ERA  which will provide a way forward
• an agreement with NEW ERA will bring people with years of oil and gas expertise to provide solid experience
• some actual producing or potentially producing assets with resultant cash flow
• potential for further growth.

Sure the devil will be in the detail when it comes to how the arrangement between the two companies is to be worked out and how that affects shareholders. So my hope is that the arrangement between the two companies can be achieved and fingers crossed that the arrangement is something that I can live with and be fairly happy with. That is the tricky one.