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In late March 2008, Weaver's Cove Energy announced that in response to community and U.S. Coast Guard concerns, it would pursue the option for the construction of an offshore berth to be located in Mount Hope Bay and serve as the berth for LNG tanker deliveries. The new component to this proposal is the inclusion of an offshore berth which will serve as the receiving terminal for all LNG shipments.

In January 2009, wesubmitted an amendment to our existing FERC authorization, allowing us to seek approval for the offshore berth option. We are currently in the stage of preparing and submitting other state and federal permit applications and reaching out to all project stakeholders to discuss the offshore berth project in greater depth.

Plans for the storage facility have remained the same as those presented in our original proposal. The storage facility will be designed to store up to 200,000 cubic meters of natural gas which can be delivered via pipelines to local homes and business or trucked to other regional storage tanks, such as the existing facility on Bay Street in Fall River.