galoc update/email from whitby

The following response was received today regarding yesterday's announcement. Hope this puts people at ease now.

Arthur - you seem to be the only chap who is not confused by our press
release - we were faced with the decision to go to the market with this
information or to wait until May for the deal to be finalized. Given the
sensitive nature of the deal we decided to go to the market without
disclosing the "big fish" in the game. In hindsight that may have been
a mistake as the frustration of our long standing shareholders (and
myself for that matter) has been effectively communicated to me and of
course I have listened.

The third party is a new player, with very deep pockets who is
underwriting the development costs. I have found that people may not
understand the importance of underwriting which is similar to a
"pre-approved mortgage" if we were buying a house. For Nido, we retain
technical control, do not have issue stacks of paper to pay for this
development and are forging a relationship with a world class player.
Wish I could tell you more but I cannot until the end of May. Please
bear with me and I do apologize for the confusion but did expect it I
must admit.

Cheers - Dave