Key points Liberia; The Company is pleased to confirm it has successfully completed all required negotiations and discussions with NOCAL and is now awaiting a final meeting with the Technical Committee to formalize an executed agreement.

Mali; The Company is pleased to confirm that any and all aspects of the application have been completely addressed and resolved to the satisfaction of these respective agencies and the management of AUREP (French Version/Authority for the Promotion of Oil Research to Mali) and the Company is now awaiting final approval of its application.