Ann: Lapse of Performance Rights and expiry of Options, page-40

Hi westcott,

My post to Sundance001 was pointing out what may push the Cameroon Government into not renewing the Convention. Obviously, only negative factors would be discussed.

The Cameroon Government may decide to renew the Convention for another year because they believe SDL can still progress the development.

I'm not saying SDL is 100% gone, there is no hope. I'm saying that, IMO, it's unlikely they will get the project into production. It's an opinion westcott.

My comments re cash reserves is my opinion. The cost cutting exercises were done by the end of last year, and the forecast spend for the March 2015 quarter was still $8m. The cash SDL has in the bank may last to 2016, but companies don't wait until there is $1 left in their bank account before entering into a CR.

IMO your last comment really does show where your just not getting it westcott, it's like your brain can't comprehend the concept.

I can't tell SDL how to get funding or extend Government date lines, BECAUSE SDL DOES NOT CONTROL THOSE DECISIONS. Those decisions are in the hands of possible funders and the Cameroon Government.

If the macro environment means no one wants to put in $4Bn to develop a project in Africa, there is very little SDL can do about that.

If the Cameroon Government doesn't want to renew the Convention, there is very little SDL can do about that.

Good luck!