What we know is that the government has given WHL another extension to conclude discussions with a potential partner.
"PetroSeychelles, in acknowledging the current status on discussions between the Company and a potential farm in partner has granted WHL Energy additional time to conclude
those discussions."
What we do not know is how long that extension is, but I think it's pretty obvious that the extension ONLY applies to discussions with this one partner, and that it doesn't allow any scope for starting the whole process again from scratch. If this is indeed the case then I think we can assume the extension is for a few weeks to, perhaps, a couple of months. i.e. discussions will conclude, one way or another, soon.
I think we can also assume that the government knows the identity of the potential partner. This, therefore, suggests that it is happy with that partner, else why offer an extension to hopefully see a deal closed? This, I think, agrees with Bob's last point that the potential partner has credibility. i.e. as I've said before, the potential partner is serious.
Given the logic, as explained above, that this either comes to something or we get nothing, I think it's also fair to assume that if talks fall over then WHL will HAVE to immediately announce that as a material development under ASX rules, just as it would if a deal is closed.
As such, I'm still of the opinion that at this moment there is still potentially a deal to be done with a serious player, and that we will know soon.
This, IMHO, is not ramping, it is an analysis and discussion of what we know, nothing more, nothing less.
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- just let it go
just let it go, page-30
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