02-12-2014, 04:17 AM
I agree with this JFT and repeat:
1. June 6th is the date we need to have on radar, not Jan 31, not March 31st. The latter 2 are "goals" of management, not deadlines. June 6th is the date stated in SPA whereby an extension is needed if the deal is not closed by then. People need to burn this in their brains and calendars
2. March 8th license dates only will come into play if IOC is not showing progress toward spudding and the closing of the deal. MH spends more than 50% of his time in PNG and talking with the government to keep them informed of progress.
3. There is more pressure on IPI due to planned drilling which was presented in the most recent PR. They are preparing bases/roads/drilling pads etc, and mobilizing rigs. That incurs expenses which IPI will have cash calls. Then the big money due on calls starts once wells are spud.
Management has things well in hand, so put computers on sleep mode set to wake up in early June. If something happens before then, it's a bonus.
1. June 6th is the date we need to have on radar, not Jan 31, not March 31st. The latter 2 are "goals" of management, not deadlines. June 6th is the date stated in SPA whereby an extension is needed if the deal is not closed by then. People need to burn this in their brains and calendars
2. March 8th license dates only will come into play if IOC is not showing progress toward spudding and the closing of the deal. MH spends more than 50% of his time in PNG and talking with the government to keep them informed of progress.
3. There is more pressure on IPI due to planned drilling which was presented in the most recent PR. They are preparing bases/roads/drilling pads etc, and mobilizing rigs. That incurs expenses which IPI will have cash calls. Then the big money due on calls starts once wells are spud.
Management has things well in hand, so put computers on sleep mode set to wake up in early June. If something happens before then, it's a bonus.