Update on discussion with Scott

Had a brief chat with Scott this morning and a summary of the discussion below:
Disclaimer: It is my interpretation of the discussion, and I did not press him on any market sensitive news

Core Side Wall Results: They have been busy collating and interpreting all the various bits and pieces of new information that's been received nearly every day. Intention to def release to the market once that's complete and written up, (over the next few weeks)

PPSA: Not worried at all, everyone's tied up with the election, however the finance minister that has the final say is supportive of the current version. The Sovereign fund that sits under the portfolio of the minister is also supportive and on board. In SM' words everyone in the current ruling party would like to see this done before the election. Not a concern, will happen either before or after the election.

Current Progress: All going well and meeting timelines, Exalo crew were back on deck and have completed their checks and balances, the well pad is nearly ready, and the rig will be preparing to move shortly to M2.

Webinar & Fireside chat: Scott is currently preparing for both a webinar and fireside chat and wants to give all the shareholders and HC mob a comprehensive update on:

• Core Side wall results
• Selection of M2 and why it was selected.
• What they will be looking for this time around and testing
• Update on the Seismic
• Other potential drills

Didn't give a time but in the next few weeks.

General Mood: Much more relaxed going into M2 compared to drilling M1, much better prepared in planning, preparedness and risk mitigation unlike with M1. Spoke highly of the new well side operations manager and another recent hire who's doing a lot of heavy lifting compared to M1, so he can focus on running the company and ensure all negotiations with Service providers and Government are progressing and on track.

Going to be exciting few weeks to say the least, hope this helps provide some colour on what's ahead.

Best
MF