Ann: Quarterly Activities Report , page-2

well, the picture on page 8 says a lot to me about the state of play ATM.

Presumably the first 2 guys from the left are SDL guys, who look professional and appropriate given they look like the project managers.

The 3rd guy looks like a CDB representative who is taking this junket to Cameroon very seriously. His background in finance is easy to spot as he does not have his sleeves rolled up and is the only one wearing a hard hat.

The 4th person is a stand out in this picture. She looks very well rested after jetting in from Shanghai. And so she should, after all, we need all the technical help we can get at this very late stage. Spare no expense.

Her stunning Fire Engine Red blouse is a grand, yet subtle, display of Chinese nationalism. One might say a master stroke, displaying a cool, hip, uber-Shanghai fashion sense not previously seen by the west.

Her Coco-Chanel sunglasses also don't go un-noticed either. A fine choice indeed.

I feel that the discussion is going along the lines of -

3rd guy -

"In my hands, firmry crasped behind my back, I have the Cledit Apploved Term Sheet (CATS).

Tonight after the sun goes down, I will wander into the field and prace the CATS into a bottle and hide it down one of the exploration holes for you to find. Hide and seek, my fliend."

1st guy -

"You mean out there?" pointing to the project mapping area.

4th person -

"Yes sir, you might have to dig a bit to find it, but if you get rucky, oh the riches that will be bestowed upon our fliend SDL, will make all the effort worth it. Trust me."

2nd guy -

"Wattup lady?"

4th person -

"Dig, dig, dont you know what dig means? You imbecile." (She says as she gesticulates vigorously).

2nd guy -

"I do dig it."

4th person -

"yes, dig, good, you do dig it. Tomorrow, yes?"

2nd guy -

"We are running out of money and cant keep drilling forever proving up resources for you."

4th person -

"Small matter sir. You have been very kind to us over the last 18 months. Sticking with us thru thick and thin. We will reward you velly soon. Trust me.

See sir, to my right, is my personal banker. I thought you might be interested to see him. He has already told you that he has the CATS in his hands. You can trust him, he is one of us. As HL owns 15% of our friend SDL, all 3 of us are one. Just ask George or Giulio, they know.

So dig."


HB