PEL 87 : My interpretation here is that we have moved into the...

PEL 87 : My interpretation here is that we have moved into the 1st renewal period of the contract which is for are period of two years having met all of the obligations set out in the initial period of four years.

Each period of the contract has minimum spend and work activities defined.

PEL 37 : My interpretation here is that we have moved sucessfully through all stages of the contract and we have reached a point where we have to apply for another work period extention. I would assume that if granted, minimum spend and work activities would be set out.