Ann: Statement of Oil Reserves for the Sprigg Fie, page-6

re: Ann: Statement of Oil Reserves for the Sp... Corp, I believe they are very confident of hitting oil at Spriggs 1 being adjacent to SXY's Acrasia production field. The game here is SXY is looking a high probability oil targets, with this first hole providing immediate value to PGS if successful. Its been assessed at between 200K to 700K barrels so its worthy of a shot, especially if the flow rates are economical. Let's not forget PGS EV is still around $10M, so even 200K barrels would be a boast, we can then move further north with the rigs to 3D territory, PEL 514 is almost 500,000 acres so there will be plenty of targets.

We need certainty with these first 2 holes so as to leave this 2-3c holding pattern, Spriggs 1 to my eye offers this. I don't feel we will be disappointed....GLTA