Still no exact drilling date and obviously no rig confirmed but:
Positive:
Drilling will occur and maybe even without a CR as they would have to raise money now to pay for the rig.
More positive: The new refinery will be seen as a signal for more players to get into the region and with less available land the chance for a JV or farm in is rising -- maybe eliminating the need for a CR.
So, even if John435 now turns very negative on QPN's management actions, it could have been a well planned move to not have rushed the drilling to buy time to negotiate with some finance providers.
The HCs are still there and even with a drop in PoO we all know how difficult it is to bring new projects into production (WPL,SSN are just 2 with problems). With no fracking required Sumatra could be one of the few remaining areas to produce cheaper than in other new areas.
Summary: With a bit of patience this has a high probability to become a very rewarding investment.
QPN Price at posting:
0.7¢ Sentiment: LT Buy Disclosure: Held
