Ron where does it say all approvals were given? It maybe that they got sick of spending time and money on shifting goal posts and decided to cut there losses and walk. Otto were not the operator of sc55 and if were pre warned of BHP intention to walk may have postphoned Galoc 2.
It the DOE were in anyway desperate for Sc55 to be drilled they should have been doing everything possible to keep BHP on board, instead of treating them with seemingly blatant disrespect. In my book you don't invite companies to tender for blocks, spend millions on seismic and then have a local government hold them to ransom, and imply that they have taken too long. I think it's time they woke up and smelled the coffee.
OEL Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
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