not sure I read it the same way ron they had 2 parties ahead of...

not sure I read it the same way ron they had 2 parties ahead of them back in March now they have one …. No mention of having another party behind them to pick up the rig if BYE decide to drill only one well.

Presumably the contract would require two wells to be drilled with option for a third so any deviation from the firm well commitments would likely incur penalties.

the fact the company is not in a position to disclose how the well is being paid for when they should of been drilling in April off the original drilling plan speaks volumes that things have not gone to plan. My bet prepayment party ain’t so keen to back BYE based on current MC, production and current oil price compared to last time.