ep 437 - north perth basin , page-66

Amer I appreciate your comments, as someone who has been burned (and now exited).

However your comments about directors and sophies cleaning up is inaccurate. The entitlement offer is not been under-written, meaning that anything not taken up is not going anywhere at the moment. Shareholders will take up their entitlements and that would be it. Any shortfall if they offer it to anyone else (which I'm not aware of any shortfall provisions within this capital raising) should be at the same price.

They really can't help timing of the drill, like any other company. It would be great if they delayed acceptance till after the results, but like anything else on the market, you take a risk.

I have to say this is the first time the company has been forthright about providing information about drilling etc. Maybe because it is in their interest to do so, however regular drilling updates like this should be happening all the time. I would hope more regular updates on Lindsey when that is happening as well.

As for the 3c estimate on failure - who really knows what will happen. there are two holes to be drilled. I for one will be coughing up for my entitlement, plus maybe a little bit more. Its a case of pay now or lose everything, that's how I see it anyway.