01-30-2014, 01:12 AM
If one reviews the SPA and ignores the license issue, the "Cut-off Date" is defined as 6 months after the signing of the Agreement, which was signed on December 6th 2013. So if they start drilling and fulfill what the government has asked from that perspective and the government sees progress on the deal with Total to their satisfaction, all of these negotiations could extend. Unlikely due to what JFT is pointing out with the cash call issues, but people should understand that early June is the SPA deadline. It's in writing and it's filed with the SEC. That's a fact. "Hopes" are it all gets done sooner. But a contract is a contract.