qtrly, page-38

R15, reason appears to be the Leaseholder participation. I think the unitisation would need to be resolved before drilling as expectation would be good chance of success on the well. The oil is patient and not going anywhere and it makes sense to protect all participants interests before drilling. Taking shortcuts usually leads to bigger problems eventually so coy will have to cop the negativity on the chin while they stay focused on the main game.

I read a while back on a blog talking about the S/hole a comment in October 2013 from a driller that they we going to drill a offset well to a recent 400 bod well they had done in Napville, whilst hearsay it stacked up with the company guidance. Note there was only one well completed and producing in the last year. The writer mentioned they were attending weekly community meetings.

Your "Old bull" theory is probably on the mark. Permiting applications started in March 2013 and from what I can behind the scene much work has been done to get this going.

Cheers