Ann 14/1/11
Napoleonville‐ Dugas & Leblanc #1 Well, Assumption Parish, Louisiana, Non Operator 15% WI
The Board is pleased to advise that the Operator has confirmed that its insurers have paid US$5m towards the blowout costs and a further $US6m has been approved for payment.
The Company has paid its deductible to its own insurers and does not expect any further exposure.
The Operator has also confirmed that the clean‐up operation has been proceeding without any major complications.
Agricultural soil reconditioning is ongoing under guidance of the LSU Department of Agriculture with dewatering continuing.
Strict compliance has been met with respect to maintaining low level salinity discharges into surrounding water ways.
Ann 14/1/11 Napoleonville‐ Dugas & Leblanc #1 Well, Assumption...
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