Ann: Market Update, page-26

Dear Tolate,

Accept the reality that WAPRC has not received the approval from China 's NDRC office for $100 million investment in ANS.

In September announcement, ANS states that it will only take around 4 to 6 weeks for the NDRC approval. It has been more than 10 weeks and there is still no news. No news means bad news. This is the fact. Without NDRC approval, there is no take over either by WAPRC on ANS or ANS on SDL. There is no point for any parties to twist the issue which is not relevant in order to justify for the delay.

The NDRC approval has nothing to do with the extension of  Mbalam extension since ANS has clearly stated if the SDL take over is cancelled, 58 million will be used by ANS for other projects.