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clock Created with Sketch. 07/06/17
02:22
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Originally posted by greenhawk
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GO... as far as I'm concerned, what is said at an AGM should be completely accessible to the general public by whatever means possible. It is no place for new material information or secrets of any kind so while I agree that the 'threat' you described is questionable, I would be inclined to follow common courtesy in this situation.Nothing has changed in this situation from earlier in the year..FAR is not obliged to give trace the seismic data , however FAR has fulfilled it's requirement under the option agreement by acquiring the seismic . If FAR exercises the option then the data may be provided to the JV. However the option cannot be exercised at this time as Trace appears to have failed to keep the permit in good standing and required to lodge a bank guarantee before the next phase of the PSC can be entered. The ball is in Trace's court .The journalist who keeps writing this rubbish does not even get the names of the blocks right and he never contacts FAR for any verification despite us contacting the organisation. He is a very poor journalist and again is wrong .Trace must put up a bank guarantee if they want to keep the block in good standing but they cannot seem to raise the money .FAR still has the option over the permit once it is awarded to whoever puts up the money so the FAR options remains alive although we cannot act on it at this time. And there is no rush.
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".....FAR still has the option over the permit once it is awarded to whoever puts up the money so the FAR options remains alive although we cannot act on it at this time. And there is no rush. ....."
(20min delay)