Hi BB/Fella's,
Talking about cash, our second renewal period expires on the 6th Feb 2014 in Senegal.
The PSC terms specify the requirement to drill a well within two years of entering the renewal
period backed by a surety of US$5 million that is forfeitable in the event of non-performance.
So if we drill in March , do we kiss the 5 large goodbye?? Look for the return of past costs in L6 farm down deal too,I think Far management will lock in a cash component.
Guinea Bissau elections on the 24th of Nov 2013, all going well we could be drilling a appraisal well on the proven Sinapa target in 2014, that was an appraisal well for those that missed it ,lol.
Enjoy your weekend,
Shovel.
Hi BB/Fella's,Talking about cash, our second renewal period...
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