EXR Trading 2023, page-11

Seems to be the standard cut and paste response from Neil, guess he's been inundated with emails regarding flow testing, works programs, delays in the PFS.

No doubt 2022 was a disappointment for the company (and shareholders), requiring the company to intervene in the approvals process in August to get Major involved to salvage the drilling program and get the pilot program for Nomgon underway. Not sure why the company planned to do flow testing in the coldest part of the year, there's probably a reason for it unbeknown to industry novices like myself.

All things being equal this year is the year where we should see significant progress made in both the Gobi H2 and CBM aspects of the business, and Grandis later this year. @WatchNact is correct regarding sp appreciation, movement wont be significant until TO rumours start, then we'll see who's prepared to offer what.

As @OilGasPlanning has stated, a company like Petro China (or SoftBank) would want to see at least 5 sub basins flow tested to ensure consistencies with coals throughout the PSC. Let's hope the 2023 works program focuses on flow testing.