Sharpeye
If BHP had been treated with "seemingly blatant disrespect" then it wouldn't be in OEL's interest either to stay involved with SC55.
Yet they're still trying to cling onto it.
No doubt the Palawan LGU were trying it on, but in the end they gave their approval. However I think BHP were trying to wriggle out of SC55 ever since they cancelled the rig contract.
The DOE will decide by April whether or not to include SC55 in the next permit auction.
Its seems a big hurdle for OEL to sow up a farmout and commit to a well in such a short period of time.
Ann: Investor Presentation , page-29
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