It's not that important what happened to MBC rig anymore but the company says "Currently, the MBC Rig #14 has been completely demobilised and removed from the well-site" on the anns, you say this is not true! It's strange. Why would they lie about that, any idea?
RE: Jont venture farmin partner payments, I have had a good look at all of the Act.reports and Annual Report 2012 but I couln't see any payment from Conoco other than this one below. (I may be missing something as I am not an expert on reading those financial tables)
Half Yearly accounts (14/04/2013), Page 14;
Reimbursement of expenditure incurred on behalf of joint ventures ..... $ 2,003,186.
So far, Conoco should have paid $26,000,000 to NSE for two wells (N-1 and GB-1). They should be owing around $24m to NSE.
Where is this payment shown on the cash felow reports? Has anyone any idea? (I have already asked this question to management by an email today).
NSE Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
