Colby's Response to STX Offer, page-245

Per the TMK June quarterly:-

"Talon elected to enter Stage 2 of the Farmout Agreement in early December 2022 and has paid the first US$3.15
million towards the now completed pilot well program. Talon has now satisfied its Stage 2 funding obligation
under the Farmout Agreement."

"Following satisfaction of the Farmout Agreement funding obligations, Talon and
TMK will be funding their proportionate share of further costs (Talon 33%, TMK 67%)."