Oustanding, page-12

Yes a small cycle down as we wait for drill results, but even in the compliance annoucements confirm the plan pre -TO "re Directors Renum annoucement for Chris." Next 5 steps not necessarily in order...

1. Gas Sale Agreement Mahalo
2. FID Mahalo
3. Gas sale Agreement Galilee (likely deeps)
4. FID Galilee
5. Galillee farmouts

A lot of work being done and more resource upgrades expected in the short term in Mahalo as final pressure data is recalcuated and resource calculations reworked.

Comet is a great place with the largest untapped reserves that are pipe ready right now, if Tor, Chris and James can get a few of these boxes ticked this thing will go for a very pretty penny.


1.
$50,000
Agreement for the commercial offtake of more than 50%
of the gas from Mahalo Project
2.
$50,000
Financial Investment Decisions reached in respect to the
Mahalo Projects
3.
$50,000
Agreement for the commercial offtake of more than 50%
of the gas from any Galilee basin project
4.
$50,000
Financial Investment Decisions reached in respect to
either the Deeps or Shallows Galilee Basin Projects
5.
$50,000
Successful Farmout of th
e Shallow Coals in the Galilee