Ann: Struan 2 Well Successfully Drilled & Struan 3 Spuds, page-2

As a long term investor – the current drilling program ‘ticks all the boxes for me’ - As always our management are doing exactly as they said that they would issuing ongoing progress reports in a timely manner.

Struan 2 drilled without any hiccups – Struan 3 now underway – thereafter directional drilling will bore along the Pollux seam followed by the same at the Castor seam.

Let’s see where we sit around Easter next year – production testing by then should give us and the market a firm idea of how much gas is attributable to our 40% at Mahalo.

The 'big boys' are playing a dangerous game – they are sitting tight wanting to eliminate as much uncertainty as possible before showing their hand – yet we are moving ever closer to bagging so much produceable gas where it’s in short supply that the option of moving to future production ourselves becomes ever more attractive and viable.

I’m sure future funding to take this step would not be difficult to come by – after all there’s been no lack of willing participants to date to drive the company through the existing position.

Once perceived uncertainty is eliminated – it’s all down to number crunching.The more we find and bag – the greater the cost to get involved. As to those playing around with a million or so shares making a turn here and there – irrelevant when it comes to a totality valuation.

I’m sitting tight smiling….