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Ann: South Erregulla Update, page-102

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    The timing of the reserve certification was entirely appropriate. It was not a mistake.

    They felt that they had sufficient reserves to fulfill the GSAs and progress the project towards FID. Which the certification confirmed.

    The reserves may (probably will) increase in the future as additional wells are drilled/recompleted/retested. Which will be important for a stage 2 expansion. But increased reserves has no impact upon stage 1 - which is what they need to get over the line now.
 
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