Ann: Court Proceedings Update, page-51

Iskandarca,

Honestly for me it´s impossible to know how will the case go on.
I can just a speculate.
In Portugal courts usually try achieve to a settlement - even before the hearings begin the judge is legally obliged to try for a settlement.
But I don´t know what kind of agreement was signed, I don´t know NLI´s arguments and don´t know luso arguments.
My guess is that a settlement will be difficult because if Luso is drilling they must feel pretty confident.
And if it is true that information that NLI proposed a 70-30 JV and Luso didn´t accepted this means they are really confident in their position.
Why should they be wasting money in drilling? Just because…?
And is also strange to me that NLI says it has an agreement but Sepeda contract is not in NLI´s name; why? How is it possible that NLI spends millions of euros in drilling and hasn´t a formal acquisition of the tenement? I think the BoD was clearly reckless.
Many questions without answers; that´s why i´ll only decide to invest after the court decides.
If anyone can acess what the lawyers wrote for the case I could show to my lawyer and get an opinion.

Cheers,