C"mon Cath, page-76

From what I hear the arbitration process is progressing as expected and should still be within the 12 month timeframe originally advised.

FAR had planned for the RISC audit of SNE to be completed by now; however, from what I hear - confirmed field defintion is still on going and as mentioned by other posters on here they're waiting on further information from the Operator so that they can draw a line under the current assessment.

I am hopeful that next steps will be - gaining more confidence in the 2C resource estimate (based on the RISC Audit) before progressing to certification of reserves and finalisation of the development plan.

Current focus appears to be on understanding the development concept and ensuring they develop as many barrels as possible as effeciently as possible.

Recent JV meetings have been focused on agreeing a JV position on the reservoir basis of design and final contingent resource estimates - my understanding is that this is a fairly complex process as the two are interdependent. I believe the operator is the one that makes the formal JV agreed upon announcement - possibly in CAIRNS next update... will will wait and see.

Ele.