october 17th 2012

Anyone remember the above date??

Significance?? Shab-1 spudded January. Drilling stopped mid May. A period of 4 months.

Shab North to spud early June. Add July, August, September and up to October 17th 2012. How many months. Is it 4??

Forgot your conspiracies. HRN, RMP, RRL were running out of time. They didn't have enough time to punch through to 3800m Shab-1, move drill 3.5km and drill Shab North before October 17th 2012. So they stopped short so the could drill Shab North to revised depth.

Only way to allow time to test as well and satisfy the PSC. If they fail to meet the deadline they breach the PSC and potentially lose the lot. Much better to beat the deadline.

Believe the conspiracies if you want. This is about timescale. The clock is ticking. I'm here for when we beat the clock. Then we'll see.

These two wells represent the first oil exploration wells to be drilled in the country in over 20 years and will satisfy the first exploration period drilling commitments as required under the Production Sharing Contracts for both the Dharoor and Nugaal Blocks. In order to provide for sufficient time to evaluate drilling results, the Puntland Government has granted an extension of the first exploration period expiry date to October 17, 2012.