Ann: Service Contract 58 - Election to Drill Exte, page-12

re: Ann: Service Contract 58 - Election to Dr... Maybe that is true for Nido (although if there was ever a chance of realising some substantial value in the future then the rational position would be to hang on to it for as long as possible).

I was thinking, however, more in terms of PNOC and their plan B.

Of course, the simplest interpretation is that the extension date is the drill or drop date (no point to extend beyond that until/unless DOE have extended). The extension is done in the hope that if DOE haven't already extended that a commitment to drill will get the DOE extension over the line and there is no plan B.