Ann: March Quarterly Activities Report, page-31

Sterilisation Drilling will lead into Front End Engineering and Design phase (FEED) to constrain the cost to +/- 10% before they can finalise the funding plan. Listening to the quarterly conference call they want to have the funding plan in place by the end of the year and they are certainly wanting to use some amount of debt. Development decision will come once financing plan is in place. Sounds like their aiming to start construction in CY2019, maybe with some pre-site works in Q4CY18. There were delays in getting the Sissingué Exploitation Permit issued. I'd be concerned if Yaouré Permit issuing starts dragging on.