Ann: Lukoil Proposal Not Proceeding, page-139

Anyway, have have a bot of time and just gone back and looked at the 2019 AGM presentation. What FAR was expecting back then in May 2019 was as follows:

"• Finalise development financing for FID
– Tim Woodall in special director role
– Phase 1 CAPEX ~ US$3bn (net ~US$411M)*
– Targeting 50% JV project financing
– Options for FAR remaining 50%
....– Partial sell down of equity
....– Mezzanine finance
....– Bond

• “Execute” after FID"

Therefore, because of increased capital expenditure required and no axcess to joint venture funding, FAR's individual capital requirements increased from US$205M to US$560M;

Regards

SP