Press Release- Comments and Questions

[petrengr1]

Tree- If you are correct about this just being about selling gas to Exxon how do you explain the part of the PR that says "selling ExxonMobil Papua New Guinea Ltd. an interest in PRL 15"? That makes it sound like what they have been saying about the sell down of PRL 15. Sounds like they will actually own a part of PRL 15. If they are buying enough of PRL 15 to load a train that could be as much as 50% or 27 1/2% if they are including the Gov't 22.5%. If they are just buying the gas from the PRL 15 owners this looks like very poor wording in the PR. What do you think? Or if it means they (Exxon) will be involved further as part of the sell down process how can they say that without violating the CA?

Appreciate your thoughts.