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Key milestones to Production
#1

From today's conference call:

  1. First 5% option for additional interest in the Solwara 1 Project by the State -- June 11, 2015
    • Note:  if PNG elects not to take this 5%, they are disqualified from taking the next two 5% options
  2. Delivery of AC, BC and CM -- Q4 2015
  3. Delivery of Riser and Ancillary Equipment -- Q4 2015
  4. Vessel basic design completed -- H2 2015
  5. Vessel steel cutting -- H2 2015
  6. Commence wet testing of SPTs -- H1 2016
  7. Vessel detailed design completed -- H1 2016
  8. Vessel keel laying -- H1 2016
  9. Delivery of Subsea Pump -- H1 2016
  10. Vessel launch -- H1 2017
  11. Vessel delivery -- End 2017
  12. First production -- Q1 2018
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