GEORGETOWN BLOCK - EXPIRATION NOV. 2012 Aside from financing related issues - it is important to note that the Georgetown block (where Jaguar is located) appears to be expiring around November 2012. Hence, it is likely there are active ongoing discussions taking place with Guyana officials and partners in an attempt to work through these issues. Possible Conversations / Discussion:
* Partners ability to get an extension on the Georgetown Block with Guyana approval - commitment to drill additional wells in a new specified / extended time frame;
* Partners ability to source a jack-up in a short time frame and SPUD Jaguar-2 well before November 2012;
* Partners immediately able to secure Jaguar by showing they have a discovery in the upper 2 fans / zones where 'light oil' was recovered.
Should there be a remote possibility the partners have to declare Jaguar upper fans are indeed a discovery (or not) - could potentially have singificant impact on CGX. Food for thought..
Others?