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.
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Fully agree, letters of intent are normally used once...
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