PJ the deafening silence is because your asking a question that...

PJ the deafening silence is because your asking a question that can only be answered by the Company , if they are at liberty to answer it at all, not by a HC poster, unless one has a copy of the contract. Knowing HC I'm sure if someone had a copy they would trip over themselves in the rush to announce it.... however nobody would believe them anyway and would be TOU'ed as unsubstantiated...

Every contract will be different and will be dealt with as written, it seems obvious to me at least that if the total expected cost of the program has to be paid for up front then expect a CR before drilling starts, if its well by well then it doesn't require a CR before drilling starts but they may still do so anyway and you will find that out by an announcement first not from HC..

Going from Managements comments (unsubstantiated) of not requiring more cash untill the end of the year then we are paying well by well...thats my best shot..

Cheers Whisky