SC58

I think most of us have given up on SC58 as being pretty much undrillable due to the territorial disputes with China, however, here is a long shot that may have some relevance to SC58.

Forum Energy hold 70% of SC72 which contains the estimated 11 tcf Sampaguita field. It sits well in to the disputed waters - much further in to disputed waters than the best Sc58 prospects . Forum have been having on again off again talks with CNOOC as a possible way of clearing the sovereignty issues. This appears to be happening with the encouragement of the Philippines government (and, one would assume, also the Chinese government)
http://www.scmp.com/news/china/arti...n-deal-filipino-british-forum-energy-disputed

Earlier this year it looked like it was all off (from the CNOOC side)
http://businessmirror.com.ph/index.php/en/business/companies/30015-mvp-no-new-talks-with-cnooc

Now it looks like talk might be starting again
http://www.interaksyon.com/business...h-cnooc-over-joint-exploration-in-west-ph-sea

In the meantime DOE continues to give force majeure extensions which I expect will also continue to be the case on SC58
http://www.interaksyon.com/business...philex-petroleum-units-drilling-at-recto-bank

Maybe there could be a commercial solution to a political problem. Worth monitoring…