Ann: Operations Update, page-111

The next announcement we are looking for is a contingent resource booking. Using the data accumulated from Nomgon. I think by the end of the year was the aim but I'm unsure how close they are to that.

Making my own assumption that Nomgon extension to the east would show the extension of the syncline which in turn would mean continuity of the 100 series seam, we would be looking at an increase in the recovery % on the low and mid case scenarios in the first assessments of the PSC.

I think this would allow an increase in the resource estimates by a factor and I'm confident that the team will have a good idea where to pinpoint for pilot production wells, probably 2 or 3, targeting gas flow from this 100 series. If the pilot wells and recovery engineering is able to prove commercial flows with minimal dewatering then we are looking at a resource with a faster start up time and less initial capex.

After the pilot wells flow gas, with permeability I believe is very supportive of free flowing gas, then the real gas resource numbers really show themselves and the confidence from outsiders will peak.

Overall we are looking at Nomgon Sub basin gas resources in the hundreds of PJ, and overall I'd be hoping for Nomgon PSC gas amounts in the thousands of PJ's or as they stated at the beginning, approaching an estimate of 7.6TCF of gas. In one word...substantial.