CONSOLIDATED BALANCE SHEET

at 31 December 2007

		31 December	31 December
		2007	2006
	Note	US$000	US$000
Non-current assets
Property, plant and equipment	11	10,267	8,470
Intangible assets	12	1,811	2,122
Deferred tax asset	13	7,088	4,400
		19,166	14,992
Current assets
Inventories	14	862	645
Trade and other receivables	15 & 23	1,857	2,725
Cash and cash equivalents	16 & 23	2,145	7,303
		4,864	10,673
Total assets		24,030	25,665
Equity
Share capital	17 & 18	28	17
Share premium	18	34,220	-
Merger reserve	18	8,858	8,858
Employee share incentive reserve	18 & 19	274	-
Translation reserve	18	(5)	12
Retained losses	18	(22,155)	(6,583)
Total equity		21,220	2,304
Non-current liabilities
Provisions	20	234	220
		234	220
Current liabilities
Other interest-bearing loans and borrowings	21 & 23	-	21,332
Trade and other payables	22 & 23	2,576	1,809
		2,576	23,141
Total liabilities		2,810	23,361
Total equity and liabilities		24,030	25,665

These financial statements were approved by the Board on 27 June 2008 and signed on their behalf by


______________________________ C Wood Executive Chairman	____________________________ M Hinxman Chief Financial Officer