corentyne ppl termsIt is worth reading the discussion of the Petroleum Prospecting License terms in the PP prospectus. CGX loses its PPLs if it doesn't meet the minimum work requirements, which involves spudding wells. The Corentyne license requires a well to be spud this year; and another in the not too distant future. So job #1 for CGX is ensuring that it doesn't lose the PPL, and this required CGX to make whatever deal it could to generate the financial resources to pay for a well. My understanding from the Pescod-Sully interview is that Sully is expecting a rig at Eagle in the very near future. In any case, it seems likely to me that CGX would at least need to contract a rig in order to be eligible for an extension.