GREY:ENGFF - Post by User
Comment by
wallywillon Feb 28, 2013 5:24pm
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Post# 21058124
RE: Backdoor!
RE: Backdoor! Actually, No Zam it is not "backdoor" nor a dastardly way of getting rid of them. You see, if the current license expires..and it certainly will by March 2014, the license can be rewritten with new terms and possibly with new coventurers. Licences expire everywhere all the time for various reasons whether it is lase of time or a non compliance of the said terms. It happens all the time. What you are implying is that this stalling of 1711 can go on forever???? Somehow I dont think so.
Namcor would not be withdrawing the licence. Ask yourself this why would Namcor keep extending the current licence in its current form if nothing gets done? Eng has always been there and pursued the development of 1711....The licence has changed 4 times since ENG first signed on. Why would it not change again? The only way it would not change if an operator was willing to sign on and accept carring the Russians interest. An HRT oil find might spur someone to sign on but remember the ECO holds blocks right next door to HRT's well sites and an interested party might perfer to go near where HRT drilled. There they could pay 70% of costs and get 70% interest...not pay 70% and get 55%.
Regards
Wally