Michael SmedleyGeoGlobal ResourcesGGRHOLDJun 16, 2006

Has gone very low profile at the moment. Be patient.

There is a rumour out there that there is an absolute colossal find going on off the east coast of India and this company is just know if of where these discoveries might be. High risk.

A pretty strong hold. A relatively speculative name. Have some pretty good drill results off shore India. Have a good management team. Have some drill results upcoming.

A spin out from a few of the management guys from Niko (NKO-T) and have assets in India, particularily on the east coast. These are absolutely huge targets. These are companies that the super majors trail. Have tons of money to spend and have some of the biggest targets on the planet and you just dig your nails in and hold on. Speculative.

For 9/10 years, management has had a different geological theory on how to find oil and gas. It looks like their theory is working out in the early days. The market is already paying up for the next couple of wells so it's an expensive stock based on what they've got so far, which isn't a whole lot of wells. Was sceptical, but is now neutral. Speculative.

Similar to what Niko Resources (NKO-T) was at one time. Speculative.

Very small company with only 5 or 6 employees. They only have one well in this discovery. Production sharing contracts in these countries can be onerous. The value of production and reserves are substantially less than they would be in developed countries.