Ann: COB: Drilling Campaign Update, page-11

Amigo, I agree that exploration by BPL has been slow in 2018. However, have you ever seen a drill rig in operation? The water is a lubricant - it is used to reduce friction and to wash out the rock fragments as they are cut by the drill bit. No water, no drilling. This aspect of exploration is relevant to the call by COB for $1.5 million from BPL. If the drilling started in early Nov 2018 (as claimed by COB), then they did it without an approved budget (the budget was approved later in November about 23rd I think). No drilling has been carried out by COB since because of the drought and the lack of an agreement of COB with the landowner. Also, doesn't the JV agreement state that the partners are to make payments to cover monthly exploration expenses. So with all respect, because I am not a lawyer, how can COB demand $1.5 million from BPL when no exploration has occurred or is currently possible?