drilling timetable

Operational Timetable

PPL 269

First Well
Firm Seismic Completed 31 December 2010
Agreement by parties to drill First Well &
Election of Operatorship 31 January 2011
Commence Drilling of First Well 1 April 2011 (60 days from date of election of
operatorship)

Second Well
NGE election to be fully carried 30 days from rig release of First Well
Commence Drilling of Second Well Within 60 days of election by NGE to be fully carried
proceed with Second Well or if NGE elects not to be
carried, 30 April 2011 if the parties elect to proceed with
the Second Well.


PPL 268


First Well

Initial and Firm Seismic Completed 31 December 2010
Decision as to whether to jointly drill First Well 31 March 2011
If jointly proceed, TLM to commence drilling of First Well 30 April 2011


Second Well
TLM election to exercise 2nd well option 30 days after rig release of First Well
Drilling following approval of transfer of further
10% interest to Farmee 60 days after receipt of Ministerial approval