sc 54 farmout, page-11

IMO Strat IMC signed agreement aware of possible exclusion pre Jan 1 09 so no surprises for them if excluded.
Key with that date is it gives KIK flexibility to provide a Major with sufficient equity in SC54 which is the big carrot in the Philipine SC's.
If T-1 fires one would think IMC will take up there 20% in shallows.

kenmrob..the Company intends to further strengthen its relationship with IMC through an exploration and field development alliance.. This is great news. As the portfolio is developed the demand on Kit will be given to IMC. Nice alliance.