consider performance, page-2

No point bringing up the past sins of PGS, the only things that matter now are:

- Sharif Oussa is on board and has big plans for both geothermal and CBM. He was a driving force being the QGC success story

- New Hope own 20% of the company - they don't throw money at penny dreadfuls

- Robert Neale of New Hope is now on the PGS Board

- The share price was 2c back in March and they recently did the rights issue at 5c, there was always going to be a cooling off period for the share price. A lot of speccies have copped it lately

- The company is gaining significant and highly prospective Australian project locations

PGS is a long term hold and I hold with plenty of confidence.