Ann: Quarterly Activities Report, page-44

Hi Westcott,

I believe the delay is more likely related to SDL and China Inc. convincing the local governments that the best/only way forward for the project depends on China providing a BOOT solution for the Port and Rail.

Once Camaroon and Congo agree then announcements can follow IMO.

Regarding an extension to satisfying the conditions of the Camaroon Convention, I understand verbal agreement has been received and once written approval is forthcoming then an announcement to market can be made.

Interesting times ahead!

Cheers,

Samson