G'day Sandy.Many thanks for the link, well done. As far as I can...

G'day Sandy.
Many thanks for the link, well done.
As far as I can ascertain, that release means that the J.V. has officially accepted the 'G.P.C.' development proposal conditional only on DoE approval.
This is very very good news!
: )

This is the last hurdle for Galoc, the question from the market will be the state of the Phillipine DoE.
Simple rubber stamp or to play hard-ball & what time-frames for said aproval are we looking at?

One would be inclined to think simply a formality on the basis of;
-The Filipino DoE would have been fully aware of interested parties in the development of this regional asset for the last five years, of which this proposal has been 9 months in the pipe-line, plenty of time for prior preparations, so approval a formality, if not why not?
-current Filipino national domestic supply/demand critically needs to encourage short-term production/exploitation leading to future 'big-hit' exploration so many pressures exist on the department to expedite?
ie- national production @ 6,400bopd, (<10,000), projected production from Galoc development is 20,000bopd equalling >%300 iincrease in domestic product short-term.
-an international major in the region to be encouraged?

We have seen an extra million come on the buy depth in the last hour so obviously the market is aware of & encouraged by this development, we shall see what occurs over the next 'two weeks' but simply very very good progress!
: )


Warm regards & good luck ...
: )