time frame, page-4

From what KR has had to say, if I understood correctly, the JV has satisfied the exploration requirements for the area proposed for conversion into a Production Licence. The requirements for a PL is to bring the field into production, if the Songo Songo field is anything to go by then the PL should be for a 25 year period. Any additional wells within the PL is at the discretion of the JV partners.

They still have exploration obligations in the remainder of the Nyuni block (that area that is not converted into the Production Licence area).

One more exploration well has to be drilled before the Exploration Permit expires (2011 or 2012 I forget which) and Aminex have indicated drilling of a well to occur in 2011. I expect the most likely target would be the Okuza field, potentially the largest target outside of the Production Licence area and there is an island that they can drill from thus saving on drilling costs.

Note: the above is from memory so I cannot be certain of the accuracy of my comments.