3 drill committment conversation

Hi all, I spoke to Phil Kelso this morning regarding what drilling is required in PEP11 if the fist well does not go to plan. His responce was that "Bounty" will be pressured by the governing bodies to drill another well within 12 months but if push comes to shove they don't have to. He said that these "bodies" are giving Bounty 100% support in this project. He said that the chances of not drilling a second well are vertually nil even without success on the first well. He said if that was the case they would revisit the sciesnic in greater detail and drill another well in a period of around 1 year.