Ann: Singapore Legal Update, page-10

not sure who you guys are talking to but obviously its towards someone on my ignore list

i have only a few a few posters on ignore since joining hot copper in 2006 when it was just a small forum

one comment i see refers to bankruptcy, which is deferred, last time i spoke with the singapore supreme court.

clifford chance has made headway in the matters and now xstate have some revenue available to inject into oil acquisition if needed. it is very encouraging . it also demonstrates that the board followed the correct path in paying for and following the legal advises, and recommendations into the duties to shareholders, and comprehensive risk assessments given by clifford chance to xstate board for its shareholders. xstate then followed that path on the damages claim.. clifford chance would have researched all aspects of the damages claim against all parties involved, and clifford chance has made some nice progress and has proven it is capable of recovering funds from the initial case and the current defendants. its only the beginning imho..

jophda.. you mentioned the puppets and the puppeteer.. a good observation.. imho once the puppets are taking care of, damages claim against the puppeteer are very likely. and considering xstate hopefully may soon be transitioning from explorer to also a producer (fingers crossed it uses funds to start on its ambitions) then revenue will be available for such a action against the puppeteer. xstate would be well within its rights to consider such an action and follow all of clifford chances assessments.

i look forward to what xstate can now do.. we have alvares totally covered, but we have yet to see any indication of the operator being totally funded for such a venture.. imho the issue of the partners being cash called and xstate raising capital with the operator not being in a position to carry out the ops is pretty concerning. but with some capital now available xstate can move ahead on its oil acquisition program which must be a relief for many holder that support the company and its direction..