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20:58
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Originally posted by MidDigitalHair
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Hi StuvaC - The Searcher 3D application is just an environmental application to enable a 3D seismic survey to be acquired in the blocks listed. It has 'now been approved and acquisition of a selection of the blocks has commenced. However, it does not mean that acquisition will occur in all of those listed blocks. For example, they won't acquire in the Chevron block where acquisition is already underway by PGS (using Ramform Titan). Searcher are a multi-client middle man that use various seismic vessels (not their own) to supply seismic acquisition and processing services. Prior to any acquisition Searcher will have been seeking funding from all the various Operators of the listed blocks. They won't have permission to acquire in any of the blocks without approval from the Operator as well as Namcor and MME. Moreover, they will likely want a decent percentage of pre-funding for the surveys before they start. Apologies if that is not new info, but I think it helps set the scene for those unaware.
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Yes, stranger things have happened.... like PCL's getting an extra year extension on top of their last extension granted to meet their obligations.
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