Ann: OEL: Winx-1 Drilling Update, page-294

FFS Gang from Dec ANN

Highlights

+· Multiple high-quality parties active in conventional dataroom
+ Deadline for bids extended due to request
+ Deal now targeted for 1Q 2019
+ Initial HRZ review by Baker Hughes encouraging
+ Additional value add analysis now underway ahead of finalising farm-out package
+ Yukon Leases - 3D seismic processing continues with inversion now underway

The FO is coming, the finer points of the deal might yet not be agreed on but sure as eggs are eggs (not sure if that translates) the world needs oil, big oil producers need new discoveries and the most difficult and costly part of that is finding them new discoveries, and ideally in a place were you can cost-effectively extract it ie on land near infostructure . Do the maths possibly at least 2,2 billion barrels of oil, current market value circa $66 a barrel. The guy behind our possible resources is BP the same guy that discovered and developt the Egal Ford shale discovery. that gives us considerable kudos, leverage and respect within the industry.

As ever .... 'The darkest hour is the one before dawn'

A polite suggestion to a few, turn over chill and relax, it's going to be a lovely day..... sooooon