egm notes

Offshore - Falcon has 5% of blocks 15, 17 and 18, and 10% of block 6. CVI to take a 40% interest in falcon.

Most interested in block 6, too be drilled later this year.

Onshore - MS believe that some permits will be allocated before the elections. For the onshore, they have teemed up with falcon, Nexoil, The veterens trust and GG (Not sure what thats short for)

Most interested in blocks 2,5,8,4

Refinery - 100,000 barrels of oil guaranteed from Sonongal, therefore easy to finance.

Cameroon - Appears to be a side issue "If we knew we would end up with falcon we wouldnt have bothered with Cameroon"

Institutional Report - To be finished by the end of the month. Mumbled interest from Macquarie.

Short Term - Finance to be completed by the end of this month, as well as agreement with Falcon for offshore signed.

Long Term - Desire to get the basket ready for takeover by the end of the year (seems ambitious)