Morning all I attended the AGM yesterday but had to go straight to work after, however I did manage a chat with John Towner after the meeting closed. As Gresley stated the overwhelming support for all resolutions says it all. Thought there may have been some fireworks given recent events but the meeting was very routine. Nancy was nowhere to be seen ! Including it would seem amongst the proxy votes.
Regarding PASE PSC the Co remains positive/confident of a renewal, recent changes in management structure in INDO are said to be having a positive influence (especially in regards to communications). As in the past we wait for positive developments.
JT noted that he was talking to their Moroccan partner at 2.30 am yesterday regarding developments with the approvals process. They are expecting something concrete in January 2014. I was told after the meeting that they have had informal approaches regarding farmins on the offshore blocks should they be awarded. TEG's "man in Morocco" appears to be quite an influential chap and sounds like he is a good man to have on our side. There was a brief mention of some assets in Mali possibly becoming available in the near future.
All up I think 2014 will be a very rewarding year
TEG Price at posting:
1.1¢ Sentiment: Buy Disclosure: Held
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