speculatively speaking, page-36

Kungpow,

guidance was that the deal would be inked in the 2nd half. We just dont know what the holdup is but the fact that the Velocys FT reactor was hush hush and only started up in May would lead to thinking that after 6 months testing of the new kit LNC legal beagles should be happy to sign up to the performance clauses inevitable in the technical spec of the JV GTL plant. It could well be that GCL have signed their bit and are waiting on Linc.

If we have neard nothing by 15th of December I will join in with the criticism on the previous June guidance. For now I will sit and wait. Signs are positive but a deal is not done-YET.