I'm sure your statement is wrong re 'no commitment'. I understood that they DID move into the second stage of SC54(? the Corin North acreage) which commits them to drilling a well within 12 months (from memory by about end-February 2007) or lose the contract area.
If so, they do need to get the additional seismic done, identify the optimal drilling location, secure a rig and actually drill by that time.
As is often the case, however, they might be able to get an extension as long as they can show that they were taking reasonable steps to progess (so it might not be too adverse if they can't get a rig by then?).
Nevertheless, getting a rig should be one of Whitby's higest priorities at the moment.
Cheers
OG
I'm sure your statement is wrong re 'no commitment'. I...
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