The referenced price forecasts and commentaries were created by R P S Group Limited for information purposes only.  Such prices do not represent a forecast, estimate or projection of future prices and should not be relied upon as such by readers.  Actual future prices may vary, perhaps materially, from those set out herein.  The price forecasts are based in part on estimates of market prices, currency exchange rates, inflation, market supply and demand, and government policy as at the price forecasts’ effective date.  Oil and gas prices have historically been subject to significant commodity price volatility, including as a result of unlikely, unexpected or unforeseeable circumstances. As such, there can be no certainty regarding future prices.

Whilst reasonable efforts have been made in connection with the preparation of the referenced prices, no representation, warranty or assurance of any kind (whether expressed or implied) is given by RPS Energy to any person as to the accuracy, completeness, currency, or fitness for any purpose of this document.

Any user of the referenced prices, for any purpose, accepts full responsibility and risk for their use thereof, without any recourse against R P S Group Limited or its subsidiaries, and waives any and all claims it may have against R P S Group Limited in connection with any use of such prices by the reader.  Accordingly, regardless of the form of action, whether in contract, tort, or otherwise, R P S Group Limited accepts no liability of any kind and disclaims all responsibility for the consequences of any person acting or refraining from acting in reliance on this price forecast in whole or in part.

As such, this document does not constitute investment advice, nor a part of any advice on investment decisions.  These price forecasts are not for dissemination in the United States or for distribution to United States wire services.

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