05-09-2016, 08:22 AM
'ArtM72' pid='68892' datel Wrote:2126 - Would you please point to the section of the SPA which gives the operator "the full, unambiguous and unilateral power to declare the 'trigger date' which will begin the appraisal/certification process of PRL 15". If your notion of that authority is the clause which states the trigger date is based on Total's sole authority to declare the end of A6 testing then you have a point. If that is the case then MH left IOC open to never getting paid because there is nothing other than winning a bad case in a long court battle that would force Total to declare the end of testing. Thus in a very important way Hession REALLY screwed up by not making "end of testing" more definitive in his deal with a bad partner. Will has got it right. What is going on (along with the demonization of Mulacek here by some) is common shareholders getting pure crap information from Hession and HIS board. We have NO idea what Hession is doing or why, and if he won't tell us then he should be fired for malfeasance. I have no idea why Tree supports the actions of this man. As the old cheer went, he's gotten the elevator and we've gotten the shaft.
Thank you 2126 for the response, but are you saying that Mike lied to us? If my memory serves me correctly, Mike stated the decision for A7 had to be unanimous and he would only agree to it if it had the potential to add a significant amount of gas; >80% probability. Furthermore, if the contract is how you state; why would Total stop at A7? As Pet has stated previously, it may take up to 3 wells to delineate the boundary. So if you are Total, go for all 3, bankrupt IOC and buy it for pennies on the dollar.