Ann: BBY Energy Conference Presentation Crux Liqu, page-3

re: Ann: BBY Energy Conference Presentation C... Slide 3:

Financing
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Term sheets being finalised for up to US$1 billion senior debt
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Sell down of Nexus’ Crux interest from 85% to 50%, expected to cover Nexus’ base equity requirement
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Strong project revenue supports early debt payout
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Leveraging Asian banking liquidity in conjunction with traditional bank finance (China)

Slide 7:

FPSO fabrication planned for China shipyards

Slide 19:

CAPEX
FPSO current estimates $675 million
Subsea current estimates $250 million
Drilling estimates$350 million
Total$1275 million
* Excludes financing costs and project contingencies

If get US$1 billion senior debt (from China) for project means Partner needs to contribute $275M (plus financing costs and project contingencies) for 50% of project!

Not a bad projected return on investment for proposed partner.

Regards

SP