Shareholder association update, page-17

seaosh,

The understanding about alameda-3 is that there was an interaction between reservoir fluids and drilling fluids causing an emulsion. It seems it's probably likely made worse by slow drilling progress in reservoir, much like what occurred in Marti-5. Given there was pressure at surface it's unlikely reservoir damage and more of a head scratching moment that was unexpected but slightly foreseeable on hindsight. Duncan has a plan that seems workable, the local drilling contractors employed by Sherrit think it sounds like white man magic. We will see in time if magic works.