Good to see some passion. But, sad to say, reality tells us that we will have to wait months for "proven reserves."
I agree, stuff the MOU, in fact, we only have 10 days to put it out of its misery. But, let's not throw out the baby with the bath water. RJ has just spent a week in China. What did he achieve?
SinoGas asked for the extension of the MOU to 31 December. They are polite people and will definitely be telling RJ if they are going to sign a contract or not and for what reason.
Remember, they didn't ask for the extension to "consider the terms," they are all agreed to, no, they are waiting for an import licence and knowing the Chinese authorities, they will grant that at THEIR convenience and yes, they also say stuff the MOU, you will get it when we are good and ready.
So, the worst that I can see is a request for a further extension and that will be granted unless there is now some doubt on the SPA, which I doubt.
The only thing intriguing me is the lack of any "hint" on the market. Has RJ learnt his lesson from the MOU and put a clamp on any leaks (or else) because he must surely have done something in that week in China and will tell us VERY soon. Just watch those volumes.
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