trading, page-29

EJ Pert re " mediation and arbitration are standard dispute resolution mechanisms under an AIPN joint operating agreement."

I applaud OTTO's "initiated dispute resolution " notice of 29/3/17 but am puzzled that it comes so long after the dispute notice issue date of 29/7/16 , especially when we are now so close to the 3rd quarter drilling window.

The 3/3/ 2017 press release of Swala Tanzania................(i.e Swala has advised Otto that, under the terms of the JOA, Otto should have progressed the dispute resolution mechanism through to arbitration by the 27th September 2016. Its failure to do so means that its claim against Swala for the alleged default is time-barred.)..................................................... has only added to my suspicion that whatever the merit of various parties claims the dispute is not being managed in an effective and timely manner.

I realize that the progress of such legal disputes cannot really be discussed on a forum like hot copper but high on my shareholder "wish list " would be the hope for a more comprehensive update/explanation of the company's plans in regard to such legal disputes , particularly where the other party makes claims in the public arena.