MXO & ERG, page-4

MXO Announcement? I believe that Schlumbergec(sp?) some weeks ago finalised their review of Matrix and in particular Langsa. The purpose of their report was to determine for themselves and other creditors/suppliers, if Matrix had sufficient known oil in Langsa to fund debt, re-establishment and expansion of Langsa, and further drilling and development of Matrix's other opportunities. In addition they were to make recommendations as to the best way to proceed. Matrix then had to convince all debtors/suppliers to support the programme, and at the same time book a rig to do the work. Doing this has taken much longer than expected, but judging by the sudden buying spree, an announcement may not be far off. (I'm cynical enough to believe that not all of us have to wait for official announcements).

For long suffering long term holders, let's hope that is the case. Although another explanation could be simply that at $0.08, Matrix was showing up at its low point on the radar screens of many short term traders.