Talon Today, page-647

Agree that Petro are unlikely to be challenged, be very embarassing for the Mongolian Government to have a 3rd party, BP, Shell, Chevron, Conoco, whoever, come in and trump China. But if the MoU is lapsed, what choice would TMK and TPD have? I do believe that Petro won't want to waste 2023 with a program that is constrained by the modest cash available to the current JV. A project with 7 Tcf in 2C/2U warrants fast tracking and Petro have both the capacity and the inclination IMO. That being said, they may want to wait and see how the Pilot program eventuates but that overlaps the exploration program. I doubt it though, I am sure what they have seen for themselves, and what they have been advised by the likes of David Casey will be sufficient to get the deal done and follow through on the spirit of the MoU. JMO.