RE:ROZ drill commitmentsI was just going by and e-mail I got from Shane last June 2013 about 1 well to drill. See below.
Hi Mike,
I wanted to write back to you with regards to your inquiry on the status of Rodinia’s PEL 81. That particular license is currently suspended. Furthermore, we have actually already satisfied the June 2013 obligations of drilling one well and acquiring 250 km of 2D seismic. In South Australia you are able to apply work performed in adjacent blocks to satisfy minimum work requirements. In 2011 we drilled to wells (Mulyawara and Kutjara) in the adjacent PEL 253 when only one well was required within that block and as such once PEL 81 comes off suspension (date to be determined/negotiated) we will apply to have one of those wells used to meet the June 24, 2013 commitment. It should also be noted that the 2011 2D seismic program undertaken by Rodinia also satisfied the remainder of the Year 4 minimum work requirements of 250 km of 2D seismic. However, the Year 5 commitment of drilling one well will still needs to be satisfied by June 24, 2014 (unless we can negotiate an extension, which we believe we can). We are working hard to try to find a solution to our current financial position to allow the exploration of our lands to continue.
Happy to answer any other questions you may have.
Kind regards,
Shane J. Kozak, CA
Vice President Finance and Chief Financial Officer