March Qtr

Anticipating March Quarter updates on the following:

Indian Oil Corporation: "GEV remains extremely active in sourcing gas in the middle east to meet its obligations pursuant to the signedHeads of Agreement with the Indian Oil Corporation (IOC). Gas supply is the critical next step for this project.We have now engaged the services of key personnel with deep contacts in the region and will update shareholders in the coming quarters as to the progress made on multiple targets."

Twinza Oil Ltd: "We are jointly working with Twinza Oil Ltd on gas supply from their offshore PNG Pasa A liquids rich gas field.In December we Issued to Twinza a positive draft Pre-Feasibility Study for the commercialisation of CNG andheld positive meetings with gas buyers in the Asia-Pac region. GEV expects to be able to provide furtherupdates on this project in the March quarter."

Ship Yards Shortlisted: "The next step moving forward for GEV is to finalise all technical and commercial discussions with the four shipyards shortlisted to build CNG 200 Optimum ships. GEV plans to have selected a yard(s) during the March 2019quarter..." This is with the understanding that "GEV will only execute the shipconstruction contract when it has secured a CNG project and all financing arrangements have been signed andare unconditional. It is envisaged that a fixed price capital cost of the fourships will be agreed with the selectedshipyard(s) together with a validity period (similar to that of an EPC contract for land based LNG facilities)."

Have I missed any?

Cheerio,
D