heads of agreement with the a j lucas, page-6

AJL get additional options for finding additional 2P reserves of 75PJ and 150PJ (over the existing reserves) within two and three years. Hopefully, AJL has a much more higher target i.e. 500PJ at Camden by 31 December 2008 so that SGL get the additional $50M incentive from AGL in their sale of 50% of Camden to AGL over two years ago.

I don't know if this target is still achievable. However, if anyone can achieve it AJL can. I suspect AJL were the initiator of this transaction. Achieving the 500PJ by 31 Dec 08 is money for nothing if SGL were to go for this target at some time anyway.

Regards

SP