aoc annual special meeting, page-4

AOC are in a difficult position, if they don't move soon they may be in breech of their drilling deadline but if they drill without full Gov support, they may get shafted.

It already appears they will lose the Nogal JV rights unless they can negotiate an extension with Range and the Puntland Gov. It might explain why AOC wanted to allocate all their exploration costs to Dharoor! If Farole doesn't give his full support, I doubt AOC would risk bringing a rig in. If AOC doesn't drill, further exploration may be delayed for several years. Clearly, AOC and Farole are playing a game of 'who wants drilling more'?