july announcements, page-3

re: august announcements We can expect the following announcements this month-
1) Details of the flow rates from the G1 Vermilion well which should be positive and lift the combined rate of the two wells to 20mmcf/day.
2) Copy of Denver oil presentation.
3) Notice of abandonment of China project. I notice that FAR's quarterly said a decision on the China block will be made by mid-August.
4) Announcement of half year to 30June 2004 results at the end of the month - I now expect a loss of $3-4mil as Directors will be obligated to write-off the total of China costs in the half yearly report if the decision to abandon the block is made prior to the signing of the half yearly accounts which now seems probable.This result will compare to a profit of $16mil made for the same six months last year.