Timetable, from here Do Tullow in it's present situation have plenty of time? No. But they have to decide if they want to spread their risk in our block or go for the 60% part.
A farm out might be done after a descison on when and where the next drilling will occur on our block. Not nessecarily before. It depends on the demand to farm in from potential partners, testing the Upper Creatacious strata (where the Liza field is situated). Seen farm-in deals even after drilling has started. Point here is, there is of no interest for Tullow to delay the process in our block, no matter the possibility of sharing cost with another actor, or not. On the contrary.
If Tullow will sell the operatorship, then the farm out comes before the next strategic descision.
Is the worst behind us? :-)
What if we have a statement about Jethro being commercial? That would of course give support to a farm out for Tullow.
Remember this?: The Kraken field operated by EnQuest have some 130 MM bbls, API at 13.1 and sulfur contamination above 1%. Production cost per barrel this last fall came down from 20 to 18 USD/bbl. Water depth 120 m, TD 4 387 ft. A stand alone field.