Lol,
GH.
It would appear TAOL don't give a rats ass about Fars claims to the Permit and have presented a cure to the Government,for their lack of completing the 3D survey requirement in the first exploration period.
Hense the permit is not in good standing, but the permit PSC provides a Cure Clause for the rectification of the permit work breach.
If the Government accepts TAOl's Cure and grants an extra year to obtain 3D & Commit to the drilling of one well,that is one thing.
It does not mean that TAOL have to grant Far an extension for missing the Farm in miss of the October 2016 deadline.
Far may think they are entitled to an extension.
So at best,Far will be in for another long legal battle to get that extension that they think they deserve.
Good luck.
Kimbo
FAR Price at posting:
7.5¢ Sentiment: Hold Disclosure: Not Held
(20min delay)