oil shale project, page-4

SPP Managing Director JimMcFarland commented on the progress at the
Stuart Oil Shale Project: "We have continued to improve performance
at Stage 1 during the current production run that began on 8 April.
Production for the current run presently stands at more than 102,000
barrels with year-to-date production at more than 213,000 barrels,
which is already some 65% of what we produced during the whole of
2002. Mr McFarland added, "The Sandefer financing package will allow
us to build on our successes to date."