Ann: Walyering Update, page-28

The problem is that even as recently as 13 days ago on the 21st June the company was still saying production was imminent, and giving no hint about any slippage from their previous announcement which was only 2 days before on the 19th June. Now it seems that there are more serious delays due to weather and the receipt of some key components to enable mechanical completion and beginning of commissioning. Surely the delivery delays to key components would have been evident a fortnight ago when they were putting out those announcements, giving us hope that we might begin commissioning at least by the end of June. This is very poor communication with shareholders. It is frustrating because I get the sense that SN has not been as forthright with us as he should have been in the last couple of announcements, and now he is being vague about an updated timeline to first production. The 3rd quarter of 2023 CY covers a long period of 90 days to the end of Sept. Surely he can be a bit more precise than that. Are we really looking at another 3 months to first gas sales or is it only a matter of a couple of weeks?

Sentiment changed to: frustrated with poor communication.