I wonder when we are officially at development stage. Given we are announcing a development alliance and fast tracking FEED, does this signal the beginning of development or do we need FID first?
The reason I’m bringing this up is because in the agreement with Timor Gap they say on their website “Upon entry into the Development Phase, Finder will assume operatorship, establishing a new joint venture with TIMOR GAP E.P.”
https://www.timorgap.com/our-business/upstream/offshore-blocks/
A slide in our acquisition announcement puts development around this stage-
Could Timor Gap be farming in for more WI in the project as part of the new joint venture? They did so with Sunda Energy (formerly Baron Oil) recently for appraisal of Chuditch.
https://polaris.brighterir.com/public/sunda_energy/news/rns_tool/story/xlod3gx
so could be possible.
We’ll find out tomorrow I guess.
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