Ann: Dec 2014 Quarterly Activities Report, page-84

Hi Westcott,

It appears as if virtually everything came to a grinding halt.
From recent quarterly it also seems that they are even less confident in getting any funding or equity partner over the line this year. That said, do you know whether SDL is actually continuing with the EP3 requirement upgrades?? Is there any certainty that EP3 is still in progress because that is a pre-requisite to obtain funding from African banks and other financial institutions. If not, then there is no hope of even obtaining funding in near future because of the EP3 pre-requisite. Have you had any first hand knowledge on this. ??

Also, what is your take on the aspect that they, abruptly, called off the FLUOR job which I believe was also a pre-requisite for equity parties? Thanks in advance.