letter of intent - sc63

Can someone please answer a question for me regarding the Letter of Consent (LOI)?

What purpose does it serve to have a term associated with the LOI that the name of the proposed rig contractor can't be disclosed until a binding contract has been signed? This makes no sense to me. Who gives a rats who has signed the LOI. It's only a LOI, so what's the big deal?

I only ask because I remember similar wording in a release some time back regarding another SC (possibly 54A) where the same terms were stipulated and then... the deal fell through.

Maybe these are standard terms in oil or other industries but I simply don't understand the reasoning behind it.

In any case, I agree with earlier posters and sincerely hope that the subject rig contract is confirmed and signed ASAP. The uncertainty regarding this issue, IMHO, is clearly something holding the sp back at present. For crying out loud, what else could it be? We double our production by the end Nov, two wells shortly after that and then further progression of WLA lead up work leading to FID. Lots of potential here fellow traders.

I do however, remain confident that this stock remains a mid-long term BUY. Will be watching tomorrow's trading with bated breath. If the sp goes any lower than 3.6c, then I'm raiding the hidden reserves and kids money boxes to buy some more.

Just sayin.