From the quarterly
"Otto will operate the drilling of Hawkeye-1"
Note the absence of likely, anticipate, expect etc,
Sounds like the previously interested deepwater operators have walked.
Anyway, getting one or two more parties to stump up USD7-10m each for ~15% should be doable. They'd only be paying 1:1 or 1.25:1 with free seismic.
My only concern would be OEL's exposure to cost blowouts and/or accidents not covered by insurance if they do retain 60-70%.
Ann: Quarterly Activities & Cashflow Report, page-6
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