Because there is no oil or gas in Panakawa and they are wanting to ensure the market knows they have some access to funds going forwards before they drop the inevitable bombshell that the money we have invested is some time (and investment on their part) from showing any sort of a positive return.
At least these turkeys have agreed to the deal - shows some kind of confidence - I doubt they would be coming to the table if they thought it was a dead duck.
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still waiting for drilling update, page-2
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