RE:RE:RE:JV?They are already in a JV and the JV partner is having very seriious $ issues that have to be solved by 3/31/16. You can see this in TAT's most recent NR, which I had previously posted here. They have to raise some big $ or shed some debt or risk having their Sr. creditors calling for immediate payment of their loans which would make them insolvent as mentioned in their NR. .
VLE went from saying this in the last MD & A in Nov.
The Company will continue to seek farm-in partner(s) to accelerate delineation of the potential basin-centered gas play on the Banarli licences and certain TBNG-PTI JV lands.
To this in the March updates to the Website:
In parallel with its initial 100% funded drilling program on the Banarli exploration licences, Valeura has an active process underway to seek a farm-in partner to more extensively explore the deeper horizons below 2,500 metres on the Banarli exploration licences. The TBNG-PTI JV also has active discussions underway concerning a potential farm-in on the deeper horizons on certain TBNG-PTI JV lands also targeting a potential basin-centered gas play.
I do not think they could be any clearer? How do others read this? The words I have highlighed seem to me they are saying that both parties of the current JV are currently in negociation with a 3rd party which would only seem to make sense to be the same 3rd party.
I am purely guessing on this part but it would seem logical that TP move some of the huge sums ear marked for searching for energy in extremely high risk near by countries and Russia? To an already known discoverery area that is far far less risky in their own country which would create local jobs and potentially solve much of Turkey's energy issues IF they can prove up the deep shale play.