Global Energy Ventures Ltd. announced that the shareholders on the completion of first Commercialization Plan in Brazil. The plan has been provided to the operator of an in-development oil field located in the Brazilian Pre-salt 1. The completion of the Commercialization Plan follows extensive in-house and third-party technical work and economic analysis using a fleet of CNG Optimum ships to transport gas from an in-development Pre-Salt field to onshore markets. GEV anticipates a review process will be undertaken during the June 2020 quarter. Shareholders will be informed as the opportunity advances to Concept Selection. Despite the recent downturn in global energy markets, the GEV Brazil project team understands the request for proposal and tender process for the related FPSO is progressing as scheduled in 2020 and are not aware of any delays to the current timetable for first production of oil and gas in early 2024. Figure 1 below outlines the scope of the Commercialization Plan, loading export gas from the FPSO via a buoy system and transporting using a fleet of CNG Optimum ships to an onshore gas processing facility. The FPSO is to be designed for up to 90,000 Bbl/d and 300 MMscf/d. With respect COVID-19 and the current business operating conditions in Brazil, GEV made the decision to return Project manager to Perth. Work continues with local partner GAIA, and the project team continue to hold discussions with the current study participants and additional target projects. GEV's objective is for at least one additional CNG Commercialization Plan to commence, and be completed, in 2020.