DrWolverine, that is the Million dollar question.
I have brought that up many times but seems to me that many simply have been overlooking that question,
until now.
There is no clear cut answer, at least not that I have been able to find out. It seems there is contradiction to who really controls information, and who it is that instituted the tight hole policy. although not 100% certain, It would appear that it was the Operator's call. Accordingly, they control the flow of information and control what, when and if Namibia can allow news to be put out. The Russians have had many other interests in Namibia, and for sure were hoping to use any potential find in 1711 as a negotiating leverage to gain other concessions with Namibia. I think this is one main reasons why they would not allow Namibia to make any results known yet. Unfortunately, it seems that the Russians may have had financial difficulties, and I have posted many times over the months, that it would them to find it difficult to come up with any new financing for continue further work in 1711.
I cannot be sure, but something tells me that the Russians may be in breach of one or more terms of the Oil Agreement with Namibia. The other very important aspect that I have tried unsuccessfully to find out is, who ordered the third party audit. Again, posted that many times, but most seemed not to have understood its implication in the greater scheme of things. We do know one thing, before the econony took a dive, they must have found something of value, otherwise the operator would not have tested. The question remains what has happened between then and now, considering the world and Russian econonic slide.
Questions remain, to what extent has Sintez performed the work in the testing of the well? Has it been completed? Are all the tests back from the Lab? Or Has Sintez blocked their payments, and hence no results are in? Has Nambia decided to order its own independent audit of resources seeing no results have ever been handed over by Sintez all this time? Why did Sintez decide not to show up at the meeting scheduled in Namibia in mid January?
The information released in the Nr's pertaining to meeting of the JV and subquent plan for the Technical Review Comittee, was it really planned, or was it a ploy by Sintez to buy more time? Why did Sintez ask Energulf to pay additional monies after the fact? Why have 2 other companies sued Sintez for monies not paid for work done during the drilling of 1711? Was Sintez not able to pay?
Many questions remain, but as I said all along, never get into bed with a Russian Company.
I don't have more answers as information right now is very tight and hard to come by, but I have known that something was up with Sintez for some time, and is it possible that Sintez is out, or on its way out? Yes very much so, and that would be a great thing, because up to now, I blame them for the lack of news and the difficutly Eng and Unx have had in keeping us informed and updated.
We do not know when all this will be settled, but I can think of many ways how once settled, it will leave us shareholders in a position far better than we ever imagined.
I posted a little while back, that what they found will not change, but we will be seeing some surprises along the way, and this is just one of them.
Although this rumor is not official, IMHO i think it is pretty much sums up why all the delay and lack of news.
For us shareholders, whether Sintez is in or out, does not matter. At the end of the day, IMO we will benefit more than we evern imagined.
GLTA