RE:RE:RE:RE:RE:RE:THIS IS BIGGER THEN WE REALIZE!!!!my take on the news is they have exercised the right (I believed had be sequentially after Kawa but maybe not), and supporting it, it says they want to maintain the continuity of the crew and team, which you would lose with a long break. my guess.. a discover in Kawa will lead to the 2nd drill immediately after Kawa. WCP mentioned.. we have until Feb to spud or sik loosing a license.
Joint Venture Exercises Option With Maersk
As part of the agreement (the "Drilling Contract") previously announced on April 22, 2021, between CGX Resources Inc. and Maersk, CGX has exercised its contractual right to use the Maersk Discoverer to drill an additional well. The decision by the Joint Venture to exercise the option is an important step in maintaining continuity in the exploration program during a period of high demand in the region and consistency in working with a team familiar with the rig - important from a health and safety, efficiency and operational perspective. The decision on the specific timing of the second well will be decided in the upcoming months to capitalize on the Joint Venture's rich set of exploration opportunities.