Ann: Brief Update , page-61

Nick3003

A well reasoned response.

I would concur that some things haven't gone to plan for ORD's management.

As long as legally there is no time limit for exercise of Calendon option, GRAM can gurumble all they like about exercising option earlier. My understanding from previous clarifications is their is no legal binding agrrement requiring ealy exercise of this option.

As for waiting for CF funds to fund SJ etc. I do concur that delays and reasons given for SJ not being drilled to date perhaps is not quite as clear in my mind as I would like as heard competing reasons for these delays.