Ann: Chairman's Address to Shareholders, page-14

But been months and you only got this news.

This news is a significant step forward that has been waiting for DEM approvals.

As Legman posted some months ago, November was the deadline for the 3 year lease, upon which, LCK may have had to give up to 30% of the PEL650 lease back to government.

The simple fact is, DEM were obviously very satisfied with the PCD results and progress so far.
As a result, we now have the green flag to the ENTIRE lease for seismic exploration without any surrender, which can only lead to confidence that DEM are backing the progress to date and happy with all data supplied.

This is just another step in the line of hoops to jump through, but a very large hoop indeed.