adx ann: rig agreement signed, page-66

Thanks lachmap,

I've noted in their previous couple of announcments that they are specifically mentioning the ETAP i.e in their annc of 8 Dec 11 they stated that the 4 bids received for the test rig was..."formally opened in the presence of ETAP".
and that the awarding of the contract required...
"Internal ADX, Joint venture and ETAP approval".

They are therefore being very careful to cross all t's and dot all i's and navigating the newly formed bureaucracy.

I'm chomping at the bit to find out whether this is commercial but the optimist in me thinks even if its not (but I reckon it will be) they will drill a whole lot more wells in the Chorbane permit due to what they've learnt to date, so they have to make sure they have government fully onside for future development (and pipeline approval and connection!!!)

GLA

Maddoc