AOC have less than twelve months to complete a well in both the Darin and Nugal basins. If they fail to do this, they risk losing their 80% share in the basins, according to the PSA and JV agreement.
As they have been anything but accomodating to Range over the last year, I can't see them receiving any special treatment, should they try to delay things any further.
I think we will see pictures of a rig being unloaded at Bosaso before we hear anything from AOC, just like we did with the seismic equipment.
RRS Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held