BlindBat, no need to remind me, I've watched the video and am aware of what I posted. You stated that Hassan wasn't being truthful when he said "we did our first 2 year work program in 11 months" This is not the same as the "expenditures" that are outlined in the PSC. We are talking apples and oranges here.
The PSC separates the 2 entities, work and expenditures. Ground work, geo-chem and seismic (passive) has been completed ahead of the timetables outlined in the PSC for Simba to comply with in the first 2 years. Drilling has not been completed and when the drills start turning the rest of the financial obligations will have been met.
As I stated those additional dollars committed to will be spent when drilling commences and part of it will be spoken for with the upcoming 2D/3D seismic slated for the new year. Hence why they are not mentioned in the financials. That money has not been spent yet but the work components of the agreement have been fullfilled.
I've met with Mr. Hassan and though he is very charming and charismatic he is well grounded and exudes integrity. Lets not go too far off on a tangent because of your frequent quarrels with another poster here, insinuating that the company is being untruthful.
The PSC's are 100+ page documents that go into every aspect of the exporation commitments, expenditures, work and drilling commitments. The exploration periods are broken down into segments, once each segment is complete, the next exploration term then commences and so on. If a company is deliquent in their obligations, they risk losing their PSC. Simba is in good standing with NOCK which cannot be said for several other juniors operating in Kenya.
Check the NOCK site for yourself, they have sample PSC's for your perusal.
PF