QPN 27.3% 0.8¢ quest petroleum nl

Ann: Quarterly Activities Report , page-24

  1. 132 Posts.
    My interpretation, of the current play, is that QPN and the land owner have signed the MOU, in relation to the land purchase. Hence, the land owner is known and confirmed to QPN. The DD being carried out, at the present time, is then the confirmation that QPN has the tenure and rights over the affected land. This just requires being signed off legally but in my opinion it does appear to be taking a great deal of time (Indonesian time at that).
    Once the land tenure is legally secured, then QPN will be in a position to sign off the Land Acquisition contract (related to the MOU)and the Land Access Agreement should follow very shortly after that, and hopefully a very competent drilling crew and rig shortly after.
    Now, IMHO the cost of the land purchase may have been forwarded to a later time when we have at least a couple wells in production and the land purchase paid off over time.
    On a side note, I have convinced myself that there are too many parties involved now for this to be just another manipulation of SHers, being asked to fund a transition to retirement scheme for aging oil and gas execs. I have not contacted QPN and have just decided to allow QPN to get on with things even if it means adopting a time frame that is more Indonesian than Australian. GLTA. Please feel free to disagree as this is just how I see the current state of play.
 
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