I wish to apologise to the requisitioning shareholders and those...

I wish to apologise to the requisitioning shareholders and those that supported them.

At the time I felt that your actions were premature and damaging to our share price thus impacting negatively on the last capital raising.

I was wrong.

Ken & the BoD have made numerous decisions that have resulted in the erosion of shareholder value. Whether this was by design or accident we can only speculate.

The UK assets should not have passed due diligence, same with North Perth. The divestment of much of our Tanzanian assets against shareholders wishes was deplorable.

Now it is looking like the rest of our Tanzanian assets will go the same way and that Lidsey #2 will never be drilled despite us paying for it twice. We've been knocked back on three Italian licences, going nowhere with the two we have and appear to have lost one of the Suriname licences.

This is like watching a train wreck in slow motion.