Everybody,

I just spoke with RM with the express purpose of finding out if we can be successful in collecting financial damages from Venezuela on a ruling in our favour. His response was as follows to the best of my recollection:

Counsel has told our attorneys that Venezuela is current in payments from judgements against them. They have honoured their commitments to the ICSID and if the hadn't there are instruments to enforce those claims if they defaulted on their obligations.

Another interesting item was that Venezuela has settled most of their claims in advance of any judgements from the court.That sounds very positive to me...

In other words, if we go to arbitration and win a claim for 3 billion dollars, be assured we will get it. The World Bank has this aspect under their control, made easier by the fact that Venezuela exports oil all over the world. I hope this puts some at ease with regards to the arbitration process.It did for me...

Thanks Richard,

EZ

Thanks, EZ.

Well, KRY, what are we waiting for?