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18/08/18

07:26

Post #: 35008919
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Originally posted by Davy Boy ↑

FWIW I think CNE might hold off handing over operator until the development plan is lobbed on the Government. My reasoning for this is if WPL think they may lose the 35% they will be wanting to delay. My reading is that the exploitation plan has to be in before the exploration permit expires....snooze you lose as Coleman put it.....Feb 2019....6 months away.
CNE will not want to risk WPL threatening their 40% IMO in any way shape or form.
Once the development plan is lobbed their is a path way if you like to first oil that has time lines attached.
If one Co. starts to try to kick the can down the road once the development approval is in I believe the government will be on the front foot with them.
Anyways my guess......but if I were CNE there is no way I would hand over to WPL operator until I knew for certain the exploitation plan was with the government. Aimo DB

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"CNE will not want to risk WPL threatening their 40% IMO in any way shape or form."

Absolutely DB, CNE are the Operator, and they will be protecting their asset.
I trust that they will be keeping WPL "honest".
They will be waving a stick and making sure that the work is being done.
What a happy little "family JV" they must be.

FAR Price at posting: 12.5¢ Sentiment: None Disclosure: Held
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