RE:RE:Taipan SummaryI do not think Afren would accept .50 cent on the dollar nor do I believe Taipan would suggest this - at best the interest and penalities could be waved - Taipan has indicated too Afren that the work was not completed on time and this had a cost to Taipan - bottom line is there has been dialogue between both companies and this will be settled well in advance of Q3
The last PP was oversubscribed but I doubt this will happen again and certainly not to the amount of $3 million - the PP was well timed and now a further farm out is likely to take place in the next two to three months (my opinion) - they now have all the seismic from Afren the updated Sproule report and are undoubtedly using this to leverage the best deal (farmout agreement) possible - if Sala hits this will just add to the strength of Taipan's position