I know it won't fit the narrative & therefore probably be dismissed with a wave of the preverbial hand.. But in a regulated industry some things you agreed to do and signed off on, need to be followed. Unless there is a damn good reason not to dp so that the regulator will swallow..
And yes we all would have liked it not to be a wild goose chase, but no one knew it was until TD, did we? One wonders how much back slapping and ckanging of beer mugs there would have been if the scenario were different?
Which as it turned out just recently it wasn't in Marti either. So by way of associating the rationale, that a missed target is a wild goose chase, then should they not have stopped at Alameda & popped the cork there? In stead of running off chasing dreams all whilst destroying value?
We get your point Feral, Lord knows we've been preached at often enough.
But I fail to see the point, by way of any realised benefit, in continuing to denigrate a company's leadership that we are invested in for doing something they had agreed to do, in someone elses backyard, using another entities money.
As for doing no favors for shareholders? I'd suggest the monthly chart shows a couple of opportunities that presented themselves for the astute? ;-)
Anyway, general guideline laid out below for ref. gltah h8tey
Quote;
Generally, once an oil and gas drilling plan is approved and signed by the regulator, operator, and farm-in JV partner, the operator is expected to adhere to the agreed-upon plan. However, it is common for drilling plans to be revised or updated as new information becomes available or as circumstances change.
Typically, the operator cannot unilaterally change the plan without approval from the regulator and farm-in JV partner. Any changes to the plan would require a formal amendment or revision, which would need to be agreed upon by all parties and approved by the regulator.
The regulator may require the operator to provide justification and supporting documentation for any proposed changes, to ensure that the revisions are reasonable and in line with industry standards and regulations.
In some cases, the operator may be able to make minor changes or adjustments without formal approval, but this would typically be limited to situations where the changes do not significantly impact the overall drilling program or environmental risks.It's important to note that the specific requirements and regulations can vary depending on the jurisdiction and the terms of the joint venture agreement.
Expand
(20min delay)