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Choppy there is no doubt this share is frustrating, you would think by now they would have learned to be more pessimistic with their guided timescales! But the truth is it’s still happening, the civil works are going ahead, the wells will eventually be drilled, ONGC have finished the tender process for their wells and the potential there is significant, the increase in oil price, must surely have resulted in us being in a good cash flow position despite disappointing monthly figures. We remain debt free with huge upside not reflected in current SP. That’s what I keep telling myself!!

Miraparriba-1 was supposed to spud in June, no news yet. Vetra is the operator and we have a 50% working interest. I note that Stratus Energy are in the process of buying Vetra for 88.5 Million US on or before 31st July. Not sure if this buy out will impact us, would appreciate others thoughts.

Basyil if the board had your vision and ambition, this would be very exciting times! But given how long it takes us to do anything, maybe I s best if the focus on delivering 1/2 or even a 1/4 or what’s already been guided

Phew! Hopefully things will get moving

�8 would recover all my previous losses here and give a little, ok very little profit! I would be happy! �10 was touted in the media not that long ago, I�d be very happy with �10!!

Net backs for May of $55 seems conservative. That gives us $8196650 for the month. So not so bad. I didn�t sell any this morning. As too slow off the mark. No top up either what little I had available I went for the PFC dip first thing.

Little buy for me at 569 this morning.

I agree, I�d be surprised to drop so far. But AMER has dropped further in the not to distant past. With POO as it is and the fully funded program, I think we are undervalued as we are, but the market tends to overreact to disappointing results so a drop today seems likely. Jam tomorrow, I mean jam next month, or August or sometime after!

Very disappointing figures.

Your right Tom they say heavy rain and flooding. So it�s 7th June still no drilling, if you believe we are on schedule that�s up to you. Looks like we are behind as usual to me. Such is life I suppose.

Have we ever done anything on time?

To sell out completely runs the risk of being left behind the rise by misjudging the peek. It�s just as easy to misjudge the dip and get in early and be sitting on a loss for a time. �If only� has had that experience here more than once. As I am no guru I accept that I�m likely to misjudge entry and exit probably more often than not. Therefore I keep my long term holding and I top up and sell with a trading pot. My strategy here has been targeting 10% gains on the trading pot banking the profits in additional shares in the long term holding. I�ve been here over a year now, around 65% up currently. By far my best performing investment.

Don�t see how you can conclude that. I hold here and am currently in profit. I expect most holders are who have averaged down on the drops and sliced a bit on the ups are on very nice averages. The volatility has provided ample opportunities. Of course some people will have been here since before the SFO investigation and to gloat over their losses is sumwhat insensitive.

I do find the increased shorts concerning, what concerns me most is not being able to grasp their rational

Probably a good move volcano although this might spike significantly if I�m correct and there is a buy up to secure more voting rights. However after it�s all settled there may be a huge sell off by the disgruntled. Given I missed sub 220 and this spike think I might just sit out until the dust settles.

3

I nearly bought back in at 217 this morning, wish I had! Didn�t really expect this bounce with no new news. Could it be a calmer to buy up votes?

Time will tell, I unfortunately have previously timed it very poorly here! Looking good this time round though

I�m inclined to agree! Think sub 200 looking like a real possibility, any buys at this level and lower will probably seem inspired this time next year. I�m watching for now.

Dino, thought I had missed my chance at getting back in sub 350, this last drop seemed unjustified on the GMDSS news as impact is a coup�e of years away and ISAT will make or break on in flight by then! Very happy to see this start to correct. I plan to hold for some time I think it will get over �7 again in the future but when? Who knows.