Ann: Enterprise Well Initial Drill Permit Submitted, page-262

Hiya, sorry guys. I didn't want to spoil anyone's weekend with what I think I have learned - I'll cut to the chase, and say that I think we have quite a wait from here. My one hope is that I am completely wrong, but I think you'll see from the following that i may not be wrong.

And apologies for the length of the post, but think it is important.

After a lot of poking around the system, I am pretty sure the "Noticed Hearing date" on the screenshot earlier is something that is entered when the initial submission is received. Original submission was 14/4, and "Noticed Hearing" date is 13/7 - so basically 3 months from submission. A "guess" by COGCC, I imagine, and is consistent across all submissions.

If you go to cogcc site, and click on Commission Hearings, there is a doc under Public Tools (OGDP Review Steps) which gives an idea of the process for an Oil & Gas Development Plan. In summary, the steps are:

• OGDP application is submitted
• OGDP application is received
• Completeness determination
• Director’s review of application (technical review)
• Commission’s consideration and final action (public hearing)

But, there is a bit of confusion correlating the details of those steps with approved document flows. I think there are elements that occur concurrently. So, to explain where we are at in terms of published documents, forms, reviews...I am pretty sure the process flow of goes something like this:

1. Applicaiton Submitted
2. Internal Review/Applicant Amendments to submission - we've done one round of this, and I'm pretty sure the feedback is given informally, as there is no published review finding. Some Re-reviews are done in 7 days (see Docket Number 210300023)
3. Formal Permitting Review (and Re-review of any Amendments if required) - we could be at this stage, but we could also have more rounds of the "informal" review/amendment
4. Completeness Determination (looks like it can occur simultaneosuly to step above)
5. When passed Permitting Review, Hearng Notice is Published (this is the actual hearing date) and Interested Parties are to be notified
6. Public Petition period commences (~20-25 working days)
7. OGLA Review is conducted (concurrently)
8. Director's Recommendation to Commission
9. Hearing for (hopeful) approval.

I guess you are all thinking what I am thinking (p.s. It is not happy thoughts from timing perspective) - BUT as a few others mentioned, if we get this one right, it could/should make future submissions flow faster.

Now, to give you all a bit of an idea of the timeline we could be looking at (note that it could be faster or slower than these, but my brain can't see how we are not in for this ride), here's some details of other OGDP submissions.

• Docket 210300017 submitted 4 March Still has a "Noticed Hearing" date of 4 June (that 3 month guess again). And they are still at the Internal Group Review stage - same as us. So, I imagine our 13 July date is not real, but a placeholder!
• Docket 210300023 submitted 23 March is at the Published Notice stage (Step 5 above). They went through 3 rounds of the Permitting Review/Amendment between 30 April & 1 July. That Hearing Notice was published on 2 July, and the Hearing Date...1 September!!
• Docket 210500082 submitted 13 May is at the Public Petition stage (Step 6 above). They went through two rounds of Permitting Review and Amendments over a roughly 1 month timeframe. Their Hearing Notice was published on 28 June, with a Hearing date of 27 August.

Given that it took us over 10 weeks from our initial submission to our first amended application, I think we have a long way to go. Even if we got the Permitting Review approval now - the Hearing would be in two months' time.

Oh, just re-read this...when I say we/us, I mean as a shareholder, I am not associated with the company in any oter way.