news: letter of intent, page-86

Fully agree, letters of intent are normally used once negotiations are finished and it is a matter of fulfilling certain conditions as well as documenting the formal contract. As stated in a previous post, the announcement says that the LoI is consistent with the company's objectives for the acreage; which, to me, suggests that there will not be a blow out in timetable. Remember, shallow waters do not need the full-scale drilling rigs like the Noble Clyde Boudreaux and can be done with ships that are far more readily obtainable.