Agree with that Dargie...force majeure (superior forces outside of our control)...we have negotiated a rig but it cannot start til...now need to get DOE approval to extend the start date so we can make a firm booking.
If the hold up were only something to do with the DOE overlooking "certain regulatory approvals" that prevents a start, it would be rushed through.
Imo, the way this has been done is to break a delay to the market gently. I might expect to see news later that Cinco will now not be drilled til sometime 2014, announcement perhaps up closer to Galoc Ph II start to help take the edge off it.
looks like they have a rig but not in time, page-6
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