SDL - Project Update, page-20

Since there has no update for more than 1 year regarding the Oakajee project and no hard evidence to prove and support this project, WAPRC may struggle to obtain China NDRC approval for the outbound investment of $71 million in ANS's Oakajee. So the problem is not in SDL since the current acquisition agreement covers only Nabeba-Congo project. So there is no reason for China NDRC not to approve for the acquisition on SDL of only $29 million. So the obstacle may be with ANS. If it is the case, will ANS secure any Oakajee's project before 30 June 2020? If not, the extension of current acquisition to any date will not help at all.

$100 million is not for SDL alone. ANS only allocated $29 million to acquire major stake of SDL. The balance of $71 million remains with ANS. The question is which project?