It is. But until that happens the spudding is also in the plan. Don't forget some of the IPI investors in PRL 15 are also IPI investors in the other license areas. So how do you think negotiating goes with someone who is an IPI investor in 236 (Wahoo), 237 (Raptor), 238 (Bobcat), PRL 15 (Antelope Deep), PRL 39 (Tri) and you are "holding out" on your PRL 15 piece? You start getting cash calls on several other wells even though you have some "pay day" coming on PRL 15. It's part of the negotiation process as well as the overall deal process as well as the license extension process. Negotiating; that's what has been going on since Dec 6th at least.
Let's let the process happen. Besides, per the SPA Total can waive the settling of the PRL 15 PacLNG Interests as a condition to closing. And meanwhile the drill bits are turning and the cash calls keep coming on many many wells in the next 12-15 months. And if you look at the chart on IOC's website showing ownership in the PPLs, the IPI investors own a higher % of 236 than they do in other license areas. Wahoo is an exciting prospect, but a more expensive one for them.
Let's let the process happen. Besides, per the SPA Total can waive the settling of the PRL 15 PacLNG Interests as a condition to closing. And meanwhile the drill bits are turning and the cash calls keep coming on many many wells in the next 12-15 months. And if you look at the chart on IOC's website showing ownership in the PPLs, the IPI investors own a higher % of 236 than they do in other license areas. Wahoo is an exciting prospect, but a more expensive one for them.