hit 35 cents, page-5

There is no doubt in my mind that drilling has commenced. I'd say the commercials of the tri-party JV must stipulate how announcements are made and in turn the JV would be cognisant of each company's reporting obligations. This could be holding things back as they'd need to agree on wording.

Also, if you are familiar with offshore drilling a number of activities need to be completed ahead of a spud. There is surface drilling as well as pre-spud casing which needs to be inserted. Usually a selection of tests need to be conducted as well as BoP (blow-out preventer) installed (amongst other things). This needs to be done before drilling 'ahead' or the spudding of the well.

All that said the anticipation is unbearable.