farm out scenario for 3d seismic, page-9

Add to my earlier post on the possible farm out conditions:

- Only P50 leads will be considered for 3D seismic

- exploration permit needs to be extended for another 3 - 5 years from 2012 exp. date

- SNOC and SEPEC needs to agree to the farm out formally.

- Environmental Impact concerns need to be rarified on the targets befoe anything can be agreed upon.


There could also be multiple farmout partners for various targets as companies may pick and choose. Most notably the top 2 P50 targets.

Don't think that anyone would commit exploration well at this stage.

All IMO DYOR


'When is the 3d data expected?'

Based on the investor presentation, the target is Dec 2012..... only if they can find a farmout partner and that the 3D seismic work could start by April 2012.

I would say the scheduling is a bit on the optimistic side.
The farm out agreement will not be ironed out this year.

All IMO

DYOR