AGM, page-22

In addition to what already has been mentioned at the AGM:
- We are fully funded til FID
- CON did receive all details regarding Far's PE (Dispute Notice) on the 28th day of the 30 day window and Cath said that happened while they where in Texas and CON has acknowledged receipt of such.
Therefore the 90 day window became invalid, when Conoco, did not participate in the required mediation after wards and closed the deal with WPL inside that window.
The Government told CON, that no approval would be forthcoming while they were in dispute with FAR.
So WPL is assuming this incorrectly.
However the government asked all parties to keep this low key at the time.
- The Government told the parties in the last weeks to act to resolve this and so far it has cost FAR approx $100,000.
- FAR/CNOOC lost out of the bidding for the recently acquired block by TOTAL.
- They will consider to monetise the SNE discovery.
Do not know, if this means, that they will only sell off SNE and keep going with the other and still to acquire area's.
Cath mentioned, that the cost to go to production was very high for a company of FAR's size and that's why a sell of is considered.
- The CNOOC/FAR arrangement is on the basis of 70/30, where FAR gets 30% and CNOOC will be operator.
She mentioned, that she hopes, that CNOOC will join them on block 2 and 5.
- Fan South will take to the end of June.
- The estimated Capex given as $12- $15 is expected to be 20% lower than that.
-Total production from SNE will be 140,000bopd.
- Kenia might be declared Force Majeur, due to too much unrest in the region.
-Djiffere is no longer as important anymore at this stage and they are still deciding if they really want it.
- Petrosen can select to acquire another 3% if they wish, only after FID, but then all cost have to be shared by them.

Others, please add and expand on this.