Ann: Quarterly Report and Appendix 5B to 30 September 2014, page-3

It is a pleasure reading the quarterly report at a time that a lot of the oil companies especially exploration companies being in a great period of uncertainty, not being able to raise funds, relinquishing tenements...it is going against the trend.In this time of low oil prices a lot of oil producers could lose a lot of their MC and explorers remain as penny dreadfuls.So it is wonderful to see a small explorer with so much going on, with so much optimism and energy.
Imho they have the right strategy, shallow drilling, modified drilling platforms, close to infrastructure. They have proved they can operate at a low cost and as the report says they are in talks with multiple parties over the farmins of their tenements with another well possibly in in the next quarter.

Interestingly they used some extra money during the quarter to investigate opportunities but then said they will not do it again this quarter. Have they found an opportunity that fits their criteria? There are plenty out there apparently and they may have the backing of investment money.They have been looking at opportunities for quite a while. The hiring of a CFO is an indication that they are gearing up for a very busy time.

This is generally when I have made lots of money, low MC, very little downside and plenty of action coming up on multiple fronts