ANTAEUS ENERGY LIMITED(AEL)

delisted following failure to pay listing fees

this company, still apparently listed on ASX, is deregistered today meaning it has ceased to exist

Ballarat South Gold Limited lodges with the Australian Securities and Investments Commission an Offer Information Statement relating to an offer of up to 3,000,000 shares at an issue price of $0.10 (10 cents) per share each with 3 free attaching options to acquire an ordinary share in the Company exercisable at $0.20 up to 31 December 2010

it is unbelievable that a listed company's directors (David Bird, David Ogg and Graeme Menzies) can just ignore their shareholders for nine months - particularly in the light of their notification of 7/11/2006

shareholders are now being told by their directors that Ballarat South Gold Limited (BSG) "will apply to ASX to succeed to the Listing of Antaeus as a suspended shell (without any of Antaeus liabilities) on the basis that it is a top-hatting procedure (which ASX would normally agree to) and on this basis and (assuming it can raise $3 to $5 million and complete the acquisition of appropriate mining tenements), it will then have that suspension in trading lifted. All that could take 3 - 4 months" - further that, "In terms of value, BSG has no assets and it has 6,000,000 shares on issue. The value of a BSG share must be notional"

a shareholder kindly informs us that Antaeus has entered into a Scheme of Arrangement with Grabon Limited which has changed its name to Ballarat South Gold Limited - shareholders have been issued shares and options in Ballarat South Gold Limited as a result of the Scheme of Arrangement - a director Graeme Menzies has indicated in a covering letter that the transaction means that shareholders can "crystallise the capital loss on Antaeus for tax purposes in the 2005/06 year, but doesn't indicate whether this would be a complete write-off or whether there is a theoretical value based on the value of the Ballarat South Gold Limited securities issued" - once again here is a board acting without reference to their shareholders and with complete disregard of the fact the company is still listed

we are informed that the software company that was going to be purchased by Antaeus has not met a condition precedent being a specific profit number for 6 or 12 months and therefore Antaeus is not bound to go through with the deal - the choices are that Antaeus can proceed with the merger anyway (but wouldn't be able to relist on the ASX because the profit numbers don't satisfy the listing requirements) or keep looking for another company to take over the shell - if you are a shareholder don't hold your breath waiting for the company to tell you anything

we understand that an information memorandum has been issued for a proposed scheme of arrangement and purchase of a software company - existing shareholders will be diluted to approx 3 or 4% of the company with the vendors of the new company getting the rest - typically there has been no release to the market - this is supposed to be a public listed company with the following people having responsibility: David Bird (Director) David Ogg (Director) Graeme Menzies (Company Secretary)

we are still seeking a response from Menzies & Partners to a number of questions

we have been seeking an update from a director Graeme Menzies of Menzies and Partners, Melbourne since 3 September 2004

the company has not paid its annual listing fee - it will be removed from the official list on 1 September 2003 if it does not pay the fee by Friday Aug 29

receivers and managers advise of their resignation and that control of the company reverts to its directors - shareholder enquiries should be directed to AEL's registered office at 433 Sommerville Road, West Footscray, Victoria, 3012 - lets hope directors now do the decent thing and firstly inform shareholders of what has happened to their company and secondly provide an indication of what they intend to do with the shell

shareholders have reason to be disappointed with the directors of this company - there has been no substantive release to the market since 3 November 1999

ex director Graham Menzies (03 9602 1500 - menzpart@ozemail.com.au) advises the company is now largely a defunct shell but has undertaken to advise further, of actions being taken in the interests of shareholders

company continues paying its listing fee as there have been proposals for a reconstruction - this may take the form of injecting a business into the existing shell which has 4500 share and option holders - alternatively the listed shell may be sold - we await further advice including indication of time frame

shares suspended

name changed from Greenfields Energy Corporation Limited