I wouldn’t be so quick to rule it out cdchi1. CGG don’t have to...

I wouldn’t be so quick to rule it out cdchi1. CGG don’t have to disclose everything upfront. CGG may be withholding license application details deemed to be incomplete negotiations and as such excluded information within the meaning of sections 3.1A of the ASX listing rules and section 708A of the Corporations Act.
(http://www.asx.com.au/ListingRules/chapters/Chapter03.pdf)
Interestingly I have not seen any cleansing statements released by CGG in conjunction with placements and associated appendix 3B’s.

If CGG (or any other company for that matter) is withholding information relating to license applications under 3.1A, it is likely that SYR would not be privy to this information and hence they have had 2 applications rejected due to pre-existing applications by other companies. It appears that this Saudi ground is pegged and applications are submitted on a confidential basis.

Interesting you mention there is a limit on how many applications you can have and that CGG have reached this limit. I was not aware of this point and I don’t recall Ines mentioning this in previous meetings I have had with her. I got the impression they would peg more ground where appropriate. Where did you obtain this information?


Only time will tell.

Marxist