Refer BUY qty report DEC.2012 (page8)
During this quarter the permit(PEP11)was renewed from August 2012 for a further 5 year term with the following work commitment:
YEAR OF TERM MINIMUM WORK COMMITMENTS
OF PERMIT
1 2000km 2D seismic reprocessing;
Geotechnical studies
2 200km 2D seismic survey;
Geotechnical studies
3 Geotechnical studies
4 Drill one(1)exploration well
5 500km2 3D seismic survey
ps:BUY has a 15% WI in PEP11
