On April 3rd last year the company announced to the ASX that they intended to start drilling in June 2012 and that an Indonesion expert Mr Thamrin had been hired by the Company. Now, three weeks short of a year later the company has no idea of their fist spud date. The reason cited is that they are still still negotiating land access agreements.
OK so first the company has gone backwards in the last year. A year ago they new when they were going to drill - now they don't.
second, it beggars belief that the Co. with the local expert Thamrin now on board had no knowledge of land access agreements or how long it could take to negotiate one.
So how did this all come about. The only reasons I can come up with are not very complementory. Perhaps others can be more positive
QPN Price at posting:
0.5¢ Sentiment: None Disclosure: Held