Patience is required here as there is a standoff occurring between OD and CHK and it seems it is dependent on drill results
Quote from a Marketherald article from the 14th Oct suggests that OD want drill results before ratifying the 80%. why this makes a difference only OD knows. While we can summise why this would be the case as there could be a number of reasons, we have to trust that management have this under control and that we will have this resolved very soon.
Cohiba believes OD is choosing to stall the next phase of the agreement until results from the Olympic Dam and Pernatty C drilling program are known.
"Whilst it is disappointing that our farm-in agreement has not, as yet, been ratified at the 80 per cent milestone, we are confident that this will be resolved soon, as we have definitively shown that the full expenditure commitment has been exceeded," Andrew stated.
CHK Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
