Takeovers Panel - Nido Petroleum, page-3800

Good morning Froggy,

The BB project was expected to cost $3.4 mil, It also included funding for the VFD commercialisation,

The $3.4 Mil was made up with $1.5mil Government funding and the rest was to be funded by FGR,

Prior to FGR deciding to look at other SC, they asked the CRCP if the funding could be used on another SC project, dut to the company not seeing the BB becoming a commercial success. apparently the CRCP said the fund can be transferred.

IMO, FGR are most likely to be working directly with UoM on one of their SC, GEIC has all of the commercial equipment already installed, It would also be a more commercial idea for FGR to use PureGRAPH rather than using third-parties GO.