On 30-Apri, GGP said "The completion of the production facility has been slightly delayed with production expected to commence in Mid May."
Today it says "The permanent production site and road have been completed. Production facilities have been installed and the gas pipeline from the production site to the nearby tie-in point is expected to commence construction next week. Gas production and sales are planned to commence in early June."
The delays has material effects on VILO trading obviously. VIL seems to stay out of this loop for quite some time. Is it possible for VIL to not to know anything happen in the JV? I don't know what is going on in this JV, don't they communicate or are they in big disagreement? VIL as major partner but not operator would wish to see the gas online ASAP. GGP has its own agenda for the merger as the gas flow would affect the acceptance of its or PASS's shareholders of the merger deal? One thing I can say for sure, VIL management is not doing a good job regarding updating their shareholders.
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poor announcement from ggp, page-46
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