agm meeting - questions, page-25

Womble/Caznac,

I asked about securing land around FP and answer was that aquisition was complete. The delay in FP has been extremely frustrating in that:

1. They have been unable to replicate the strong gas shows that they found at multiple levels on the way down when drilling FP1. They found gas but not in commercial quantity.

2. GGP were seeking to gain access to a large amount of seismic data to supplement their own data on FP. There were unavoidable delays in acquiring that data. Now that they have it, they need to fund the interpretation of the data in order to pinpoint the best location for FP2. This will take another 2 months or so. Once FP2 location is determined, drilling of FP2 will be undertaken.

Hope this is helpful.

Miki

I do love a little humour.