Ann: Shareholder update - Senegal drilling, page-58

OK great diagram, thanks Freehold, so we are NOT there yet folks.

Please re-read the FAR announcement. "Having set 13-3/8”casing in the FAN-1 well ahead of drilling into the two main objectives, the maintenance work is expected to take approximately 12 days".

That means before.

The larger (wider) red zone is the conducter hole size. This is where they drill without a blow out preventer (BOP). Then they are required by law (and common sense) to have installed a BOP BEFORE THEY ENTER ANY RESERVOIR (KNOWN OR OTHERWISE).

So, we have drilled down to the planned depth to set a 13 3/8" casing which is the industry standard size to then install a BOP.

We will then drill out the casing shoe, new formation and test it to see if it has enough strength (integrity) to withstand the pressures of a hydrocarbon bearing reservoir at the prognosed depth.

This is ALL STILL TO COME.

In the mean time we have maintenance which is necessary and in light of the Macondo disaster is now rigidly adhered too. Frustrating to those that want to trade on speculation ahead of success.......but to anyone following this and needs to see a safely drilled discovery this is now an industry wide operational practice.

Bottom line....... we are above our objectives running safety tests prior to moving ahead to drill into and test if there is hydrocarbons or not.

All bets are still on, Patience be with us all as well as good luck!