Status of Licenses and Commitments

[Getitrt2]

sageo, I think all this is something to be aware of as time passes, but, if it helps any, I am not losing any sleep over it now because the Company does not see any of it as issues of concern at this point. IOC and the government have agreed to give all priority now to E/A and Triceratops, with planned drilling there in excess of mimimums. Extensions have been submitted and are expected on PPLs 236 and 238, with wells likely in those by March 2014, all within the terms of the laws for allowable extensions, etc. It is also worthy of note that although no wells have yet been spudded in PPLs 236 and 238, significant expenditures have been made for seismic and other work, including drilling site preparations, as called for in the leases, which I understand from the Company carries a great deal of weight with the government.