when are we going to get an update?, page-5

LZA

After 5 October last year, Redbank Energy (AEJ) no longer has any control of the Redbank Project. I would assume that KordaMetha is now collecting revenues of the Redbank Project and using this money to service its debt.

I also assume that if KordaMetha receive an offer for the Redbank Project that gives the banks an acceptable write down, the company will be sold. I do not expect that the price will leave anything for AEJ shareholders.

Can I suggest that you read the Chairman's statement from the AGM:

http://www.redbankenergy.com/media/435307/agm%20-%20address%20+%20slide%20presentation%20-%2022%20nov%202013.pdf