PSC Terms Hello Everyone:
The best way to deal with bashers is by posting facts and references. I encourage investors to look on the sedar site for the October 4, 2011 PSC amended report that was signed by Longford. Clause 4.4 on page 18 states very clearly that PSC contract cannot be cancelled by any default of Contractor which is Longford. Clause 4.5 was added to this contract whic discusses about assign government part to another company and, refers to sections 39.1 to 39.7 which is also new and discusses terms to be respected in circumstances for a change in control. It appears that buyout was probably behind the scences from October 2011 and deal was arrived to in December 2011. PSC contract says that it needs KURDS APPROVAL prior to making change effective. I believe we are at this stage of awaiting Kurds signature.
JMHO