Ann: Funding for Grandis and Nomgon, page-121

For Nomgon 10, we should expect the spudding announcement within the next week or so. Once it has spudding, does anyone know when should we expect some indication of gas flare similar to how Nomgon 8/9 started. I'm assuming by the time we then start spudding Grandis (End of Oct/ Early Nov), we should have some early indicators for Nomgon 10? What would it take to be deemed commerial for Nomgon 10 and the associated timeline?

Would it be then fair to assume by early Jan/ late Jan, we get an indication of how Grandis is doing before we know for sure by late Q1 of 2024? Is that the expected timeline we are working towards now?

So ideally the next 9 months, we should get the following:

• Early September - Nomgon 10 Spud
• Late Oct/ Early Nov - Grandis Spud
• Early Nov - Early indication of potential gas flare for Nomgon 10 (2 months since Spud)
• Late December/ Early Jan - Early indication of flow rates for Grandis (2/3 months since Spud)
• Feb/ March - Outcome of Nomgon 10 Pilot (6 months since Spud)
• April/ May - Outcome of Grandis (6 months since Spud)

With either project succeding resulting in a huge-rerate in the SP and a gradual SP appreciation leading into the results. Of course a H2 update here or there but I'm not holding my breath for it. Is there anything I'm missing, would really appreciate some technical analysis from anyone more experienced. Cheers