termination of rig contract for jpda wells, page-17

It essentially makes the terms of the farm in deal more attractive with more semisubs available. It also means the the farmee has ample time to raise the cash before an imminent drill program, and not be tied to a semisub booked during an overheated rig market.

Downside is that we won't be drilling Timor until the end of the year at least, but who knows what ENI are doing with their rigs, or Woodside for that matter.

Buy on news for this one