artemis...the hunt is on, page-17

jx,
the information in my post is based on the indications I was given. Commencing drilling in the third quarter is probably the worst case scenario but not out of the question. I agree that the timetable will depend to a degree on who the farminee is. Both Kar's P1 and MEO's Z1 were spudded in February and both had at least one interruption for bad weather. If the farminee wants to completely avoid those weather conditions they could decide to wait until early in the 2nd quarter before spudding. I don't know what the drilling contracts provide for in regard to delays due to bad weather but I would guess down time costs are not borne by the contractor.

In the case of WPL, they may well be prepared to start as soon as possible in 2010 but another farminee may decide not to incur the drilling expenditure until later. It could certainly wait until the 3rd quarter. I've been advised that drilling in 2009 will not be possible.

In regard to any announcements, I also remember reading the comment in O & G but again my comments are based on what I was advised. I responded that if there was no announcement next week that MEO might be inundated by enquiries. They may decide to make an ann. but thats not the impression I was given.

I wonder if Centrebet would be prepared to give odds on the farminee because I would happily put some $$ on WPL?