october announcements, page-12

gas negotiations Guys,

Companies negotiate gas sales contracts which eventually lead to a termsheet or letter of intent or memorandum of understanding etc. AZA have been out in the gas market for some time and look close to securing a deal.

If they were able to finalise a LOI or MOU, generally companies will not wait for a JV meeting to announce such market sensitive information but would run the announcement past the JV for endorsement. At the JV meeting they may elect to discuss and agree aspects of the gas project such as timing, costs, commitments which, if agreed, would lead to a more substantial announcement.

My feeling suggests that AZA are very close to doing the deal as there is no shortage of buyers at the price AZA require.

Stand by for take-off