I think they will stick to their knitting nad keep at their Philippines licences and producing the oil at Galoc and thinking about Galoc Phase 2.
I think Galoc Phase 2 will very much depend on the financial health of the other Galoc owners because they will not see any cashflow from Galoc for a considerable period if JV cash is withheld to pay for the Phase 2 capital expenditure.
This stock will require some patience.
Ann: Operational Update - Duhat-1A Well , page-10
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