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From: "Phillip" <pstack@keitu.com>
To: <smelk@aicenergycorp.com>, <directory@aicenergycorp.com>
Cc: <kspilman@keitu.com>, "'rgrimes'" <rgrimes@aicenergycorp.com>
Subject: Answer to Questions
Date: Wed, 23 Mar 2022 15:24:27 -0500
Message-ID: <000701d83ef3$ff03e510$fd0baf30$@keitu.com>
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Hi Snow,

 

Here are the answers to the questions you sent via text.  Kathye and I have
called the spend to date information you have in your answer to #1 as the
cutoff for FEL2 to FEL3.

 

1.	Table is fine to answer the question.  The bold number is the number
spent to date.

 

2.	FEL1 = $952,500 (estimated)

FEL2 = $10,271,970.92 (answer to #1 - the FEL1 estimate)

 

3.	Approximately $23,000,000 until FID

 

4.	Approximately $23,000,000 in FEL3 (FID is at the end of FEL3)

 

Please let me know if you have any questions.

 

Sincerely,

Phillip Stack


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class=3DWordSection1><p class=3DMsoNormal>Hi Snow,<o:p></o:p></p><p =
class=3DMsoNormal><o:p>&nbsp;</o:p></p><p class=3DMsoNormal>Here are the =
answers to the questions you sent via text.&nbsp; Kathye and I have =
called the spend to date information you have in your answer to #1 as =
the cutoff for FEL2 to FEL3.<o:p></o:p></p><p =
class=3DMsoNormal><o:p>&nbsp;</o:p></p><ol style=3D'margin-top:0in' =
start=3D1 type=3D1><li class=3DMsoListParagraph =
style=3D'margin-left:0in;mso-list:l0 level1 lfo1'>Table is fine to =
answer the question.&nbsp; The bold number is the number spent to =
date.<o:p></o:p></li></ol><p =
class=3DMsoListParagraph><o:p>&nbsp;</o:p></p><ol =
style=3D'margin-top:0in' start=3D2 type=3D1><li class=3DMsoListParagraph =
style=3D'margin-left:0in;mso-list:l0 level1 lfo1'>FEL1 =3D $952,500 =
(estimated)<o:p></o:p></li></ol><p class=3DMsoListParagraph>FEL2 =3D =
$10,271,970.92 (answer to #1 &#8211; the FEL1 estimate)<o:p></o:p></p><p =
class=3DMsoListParagraph><o:p>&nbsp;</o:p></p><ol =
style=3D'margin-top:0in' start=3D3 type=3D1><li class=3DMsoListParagraph =
style=3D'margin-left:0in;mso-list:l0 level1 lfo1'>Approximately =
$23,000,000 until FID<o:p></o:p></li></ol><p =
class=3DMsoListParagraph><o:p>&nbsp;</o:p></p><ol =
style=3D'margin-top:0in' start=3D4 type=3D1><li class=3DMsoListParagraph =
style=3D'margin-left:0in;mso-list:l0 level1 lfo1'>Approximately =
$23,000,000 in FEL3 (FID is at the end of FEL3)<o:p></o:p></li></ol><p =
class=3DMsoNormal><o:p>&nbsp;</o:p></p><p class=3DMsoNormal>Please let =
me know if you have any questions.<o:p></o:p></p><p =
class=3DMsoNormal><o:p>&nbsp;</o:p></p><p =
class=3DMsoNormal>Sincerely,<o:p></o:p></p><p class=3DMsoNormal>Phillip =
Stack<o:p></o:p></p></div></body></html>
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