Ann: Mitsubishi Funding & MoU Update , page-23

Todays, I would be looking for news of upcoming visit to Japan by management. I think that aspect is close and just puts another positive note behind the company.

Why the need to go to Japan? Usually Japanese like to deal with contract law in their own country where they have time and a bucketload of lawyers ready to look at all details. Actually I feel that aspect has been done already, but the courtesy part needs to be undertaken. It is seen as a sign of trust when Saiko keiei sekinin-sha (CEOs) or slightly lower management have a drink together and cement relationships. Bonding is part of the culture and is required if a business relationship is considered long term. It also allows a seller to visit clients and see the needs first hand and to make certain goodwill gestures regarding the allegiance. Politicians do it all the time, but when getting funding from and supply agreement for a Japanese business the same protocols are often required.

I used to go through the protocols years ago when I did some consulting work to the Australian trade commission in Japan. Had the Japanese part worked out, but Aussie politics, lack of market knowledge (cultural perspective) from some of our Aussie companies and irrelevent admin did my head in.

Mitsubishi are here to stay and CNQ developing long lasting relationship is key to that commitment.

So...I would be expecting news on the front soon regarding visit to Japan. Perhaps in next few months. If yes...positive positive sign.

My main question is not how the company is tracking, nor the relationship with Japan (which I remain very confident with) but is what happened to moto engil and why they are so quiet? They have not sold out, diluted interest by selling shares or done anything, and I find that curious.

Perhaps someone can enlighten me on that aspect.