"BHP trying to wriggle out of SC55" is simply not true.If they...

"BHP trying to wriggle out of SC55" is simply not true.
If they wanted out they would have let the time line expel them without the expense of invoking Force Majeure.

The following was released 20/01/2014 and I suggest anyone whose astute read it.

http://www.mb.com.ph/aussie-govt-expects-forward-success-on-sc-55-petroleum-exploration/
It includes the following statement

"While the exit of BHP Billiton last year ignited some sort of controversy, the assignee-operator for SC 55 Otto Energy has already upped the ante for them securing “the final regulatory approval on the Strategic Environmental Plan Clearance”, which is a requirement by the Palawan Council for Sustainable Development for the drilling of the Cinco-1 well.

Once that is done, the Australian firm noted that its next step will be to “seek confirmation from the DOE (Department of Energy) of the revised work program… timing following the suspension due to force majeure.”

Have anyone seen an ASX release stating that the force majeure is over yet?

Well then, the force majeure is still in effect, and will remain until the issues are resolved.

Otto energy are doing the right thing, small company that they are, and if the outcome is negative for SC55 and Otto, I believe it will have far reaching negative consequences for foreign investment in the Pines!

DYOR IMO