I think in a nutshell the FM pushed the drill date out to OCT 14. (Matts the guy to confirm this with when hes back next week.)
Thats also in line with previous comment from the DoE that they would like to c a rig booked ....I think we can safely say they didnt mean in 2015.
OEL will be rightly and fairly arguing for some more time to compensate for BHPs sudden withdrawl.
The probable reason why OEL releases say a drill date as early as Q4 2014 is in case the DoE r inflexible about a time extention and OEL is showing its intention to meet that obligation.
Last I heard, i got the impression OEL would try meet this deadline if it came to an impasse ,and if need be with not the perfect farminee(s).
Also OEL is clearly setting up for this possibility doing well designs and other preparations/planning and also by making the Hawkeye call instead of leaving the decision to the farminee.
Unfortunately i believe we r going to wait several more weeks b4 getting the DoE ruling and verdict on a time extention or not.
C
Ann: Investor Presentation , page-31
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