RE: RE: News
The window is closing for the other third parties as this has to be drilled by early next year (Feb 8th) based on the agreed upon Work Committment as stated in their February 2012 presentation. The other alternative is to go it alone which isn't out of the question and would require some lead time.
Either way there will be only a few months left for loading up at these low prices unless there is a surprise partner and drill program announced soon.
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Luc Desmarais, the President and Chief Executive Officer of the Company, stated: "While the parties endeavoured in good faith to complete the proposed Well Program, final agreement could not be reached with respect to this program. We continue to believe in the strength of our seismic data, as evidenced by the interest shown in the Block by other third parties, and look forward to working with Rockstone, as OOI's minority joint venture partner, to further explore and develop the north Phetchabun basin."