Not sure that there is a current position. More like a stand off where the locals will finish up with nothing and the Philippines will not get their expected gas top up. A loose, loose for greedy blackmailing people and the whole deal will finish up in Court for eternity.
It's also showing that the Philippine Government doesn't have control over the development of its resources and is a dubious place to do business.
Looks like BHP are in a cost cutting mode and SC55 would be very easy to cut and argue in court for compensation. BHP have given OEL their money back for SC55 so OEL are in a win win.
There is no value in the OEL share price for SC55 but I expect strong share price growth as Galoc drilling and production get under way.
sc 55 , page-4
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Mkt cap ! $62.33M | |||
| Open | High | Low | Value | Volume |
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