RE:RE:RE:RE:RE:RE:question Goaweigh wrote: Equinor wanting to move ahead aggressively is the least of our worries.
The concern is that they earn their 50 % and then hire Viking and 9 of his cousins to study the data and decide what to do next and 5 years later they're still trying to screw in the light bulb so they can read the data.
With luck maybe EQR will sell their 50 % to Swedes like the Lundins and something will actually happen in our life times.
waitingstill wrote: Equinor already owns a portion of the basin. I believe 50% of the Western part where they are drilling now. They have yet to complete their earn in for the rest of the basin. That happens when testing at Inanli is completed or they come to some other arrangement. If they do not complete the earn in, then 100% goes back to VLE but Equinor still will have their 50% of the Western portion. If/when Equinor earns in, they can request to take operatorship which initiates a transition period over 3 to 6 months. The operator will then propose a work program. If Equinor proposes a massive work plan that VLE can not keep up with, VLE has the option to not participate. They have mechanisms in place to account for those disparities.
Thanks for the replies
Yes my concern is that there seems to be no reason for EQ not to take owership, if there is no legal need for them to spend many euros. Hopefully they will want to go fast but it sounds like they could take over and just continue research at any pace they wish but they keep the project as an option for the future... ie we are at their mercy from then on unless there is a clause saying they must commit to progress.
Hopefully some with experience can let us know what would be expected of them. If they had to make a big payment to VLE on acceptance that would be different.
No quick news on DEV so I am hoping things are flowing and flaring nicely... but no real buying as of yet at this price. Volume has dried up.