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Domestic Power Project

The Domestic Power Project (“DPP”) is a planned 300 megawatt power station and associated coal mine that is envisaged to be built at CIC Energy’s Mmamabula Coalfield.

The power is intended for sale to Botswana Power Corporation (“BPC”), Botswana’s national utility, as new baseload power generation is required to sustain the country’s growth.

While neither development partners, nor financing has yet been arranged, the cost of the capital equipment and infrastructure for DPP is estimated at approximately US$800 million (as of August 2010).

Once financing has been arranged, the estimated construction time for the DPP is anticipated to be approximately 24 months.

CIC Energy is currently considering several alternatives for the development of the DPP, however a decision regarding these alternatives remains pending.

-January 2012-