Expert Report License Areas 1,2, 3 and 5 Lake Tanganyika, Democratic Republic of Congo (DRC)

Mandated by our Client to develop an Expert Report and an assessment of the value that should be assigned to a number of exploration licenses in the DRC'sSector of Lake Tanganyika. The requirement for the report followed a dispute that arose between our Client and the Government of DRC during the negotiation during the negotiation of a Production Sharing Agreement between the parties that cover exploration and ultimately exploitation of the discovered resources. Bayphase used its considerable expertise in consideration of oil and gas properties in the Rift Valley to arrive at its Independent Opinion. The Expert Report is scheduled to be presented to the Paris based Chambre de Commerce Internationale.

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