Delta

EPC: Critical and Interface Milestones US Plan US Fcst Delta (mo) VC VC Fcst Delta (mo) VC to US Fcst
C1: Utilities Area Handover (EPC4) 11-Aug-11 01-Oct-11 1.7 03-Sep-11 01-Oct-11 0.9 -0.9
C1: Handover Industrial Park (EPC4) 30-Aug-11 31-Oct-11 2.0 25-Sep-11 31-Oct-11 1.2 -1.2
C1: Handover Rotator Housing (EPC4) 05-Nov-11 TBA N/A 10-Dec-11 10-Dec-11 0.0 N/A
C1: Well Pad B Access Available to Drilling 31-Oct-11 31-Oct-11 0.0 10-Dec-11 10-Dec-11 0.0 1.3
C1: Partial Process Area Handover (EPC4) 03-Nov-11 03-Nov-11 0.0 28-Dec-11 28-Dec-11 0.0 1.8
C1: Full Process Area Handover (EPC4) 17-Feb-12 17-Feb-12 0.0 05-Apr-12 05-Apr-12 0.0 1.6

EPC2: Caution Bay Shorepull 01-Oct-11 15-Oct-11 0.5 01-Oct-11 15-Oct-11 0.5 -0.5
EPC2: 100% Line-pipe Available (delivered to PNG) 31-Dec-11 31-Dec-11 0.0 31-Dec-11 31-Dec-11 0.0 0.0
EPC2: Omati River Shorepull 01-Jan-12 01-Jan-12 0.0 01-Jan-12 01-Jan-12 0.0 0.0
EPC2: Above Water Tie-in 01-Apr-12 07-Mar-12 -0.8 01-May-12 01-May-12 0.0 1.8
EPC2: Offshore Pipeline Ready for Hydro test 01-Jun-12 01-Jun-12 0.0 30-Jun-12 30-Jun-12 0.0 1.0
EPC2: Offshore Pipeline Turnover / Omati Tie-in 01-Sep-12 01-Sep-12 0.0 31-Oct-12 31-Oct-12 0.0 2.0

EPC4: Commence Piling 12-Aug-11 01-Oct-11 1.6 01-Oct-11 01-Oct-11 0.0 0.0
EPC4: Complete Main Camp - Phase 2 01-Nov-11 01-Nov-11 0.0 31-Dec-11 31-Mar-12 3.0 2.0
EPC4: Complete Main Camp Construction 31-Mar-12 31-Mar-12 0.0 01-Apr-12 31-May-12 2.0 0.0
EPC4: Complete Piling 30-Jun-12 30-Jun-12 0.0 30-Jun-12 30-Jun-12 0.0 0.0
EPC4: Complete U/G Piping Installation - Process Area 31-Oct-12 31-Oct-12 0.0 31-Oct-12 31-Oct-12 0.0 0.0
EPC4: HGCP MC 01-Oct-13 01-Jan-14 3.0 01-Jan-14 01-Jan-14 0.0 0.0
EPC4: Feed Gas Available at HGCP 01-Dec-13 01-Dec-13 0.0 01-Apr-14 01-Apr-14 0.0 4.0

EPC5A: Omati to Kopi Pipe MC 01-Dec-11 15-Jan-12 1.5 20-Mar-12 20-Mar-12 0.0 2.1
EPC5A: Kopi to Kutubu Pipeline MC 01-Jun-12 01-Oct-12 4.0 15-Nov-12 15-Nov-12 0.0 1.5
EPC5A: Final Handover Omati to Kutubu 31-Oct-12 31-Oct-12 0.0 15-Dec-12 15-Dec-12 0.0 1.5
EPC5A: Kutubu-Hides Commissioning Complete 23-May-13 23-May-13 0.0 31-Jul-13 31-Jul-13 0.0 2.3
EPC5A: Spineline Commissioning Complete 05-Jul-13 05-Jul-13 0.0 31-Aug-13 31-Aug-13 0.0 1.9
EPC5A: Onshore Pipeline Turnover 15-Jul-13 15-Jul-13 0.0 01-Oct-13 01-Oct-13 0.0 2.6

EPC5B: Airfield aggregate stockpile reaches 1kT 01-Nov-11 01-Nov-11 0.0 01-Nov-11 01-Nov-11 0.0 0.0
EPC5B: Runway Pavement Commenced 15-Sep-11 01-Jan-12 3.5 01-Nov-11 01-Jan-12 2.0 -2.0
EPC5B: Complete Runway Earthworks 01-Feb-12 01-Jun-12 4.0 15-Mar-12 01-Jun-12 2.6 -2.6
EPC5B: Komo Airfield Cargo-ready 28-Aug-12 05-Nov-12 2.3 01-Dec-12 01-Dec-12 0.0 0.9

Notes:
Blue Milestones are Interface