NuEnergy Corporate Overview

For personal use only CHALLENGES ON THE PATH TO RESERVES Approval Processes NuEnergy Approval process and tendering is cumbersome and this promotes a slow moving high cost environment the tendering process substantially impairs the chance of gaining economies of scale & makes dealing with short term operational issues that require rapid approval difficult Pre-approved cost recovery limits (eg cost recovery ceiling for well cost using benchmark costs) could be a way of avoiding lengthy delays for tendering where time is of the essence... Getting The Job Done in Timely Manner Can Penalise Contractors Cost recovery processes and audits often exclude costs necessarily incurred to get timely results / to deal with operational issues expeditiously On The Ground Support Increased federal support is required on the ground in regions with local authorities, the police and with other Government departments to obtain co-ordinated local / regional approvals in a timely manner LCBM Service and Equipment Suppliers Increased supplier support for consumables, spare parts and drilling - this issue being proactively addressed by operators working together

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