http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11337398
Without an increase in oil price Woodrose wont get finance, and Filipino DOE will just roll the permit over each year for the next 3 - 5 years until US shale oil depletes and oil prices firm.
There is just too much oil in the world right now.
OXX may have to just wait until say March 2015 and then be forced to farm out block A in Sumatra, make a single exploration drill and then its just fingers crossed.
Ann: SC 6 Cadlao Conditional Settlement Agreement Reached, page-36
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