During the first quarterly reporting period planning and organizational activities were pursued in connection with corporate establishment in Indonesia and preparation for the initiation of field-based exploration activities

Various project start-up administrative, operational and technical activities have been completed. Matters relating to the provision of project access permits needs to be finalized before the exploration program can be initiated.

No technical results were generated during the first quarterly period as the field component of the proposed exploration program has not yet commenced.

Exploration expenditure incurred during the first quarterly period associated with the project establishment activities amounts to US$ 3,065.