Any news, why not?

I went to the Sydney preso following the AGM on 13th June.

I was very impressed with the activity and excited about upcoming positive vibes on a number of issues including SNE progress, SAMO drilling location, ERIN possibilities, PE TOR etc.

Since then, two months later, we have had a bog standard Quarterly telling us don't expect anything from PE for a further 12 months.

Disappointed much? Fortunately SP is holding up between 12.5 - 13.5 but no news and oil falling to $72 with murmurings about economy and Turkey may put some downward pressure? - along with further delays to any progress updates.

Why then has there been no announcements to issues expected to be concluded in Q2 or in July?
- It's big and more complex that they thought? (That's just poor project management and poor management of expectations)
- Is it because it's Africa and it's just slower and harder there? (Far are surely experienced operators and understand dealings with Govts & other stakeholders better than others?)
- Is it because of JV and poor FAR are constrained because of CNE/WPL? (Might be but they are part of JV and shouldn't make representations they then can't fulfil?)
- Anything else?

I do think ERIN situation is an exception as an opportunistic play likely involving some complex negotiations and uncertain resolution if any.

Hopefully we get some news soon.
(I note CVN sent a shareholder update this morning to address a number of clarifications to their fortunate shareholders.)

Cheers.