RE:RE:RE:License Thoughts You guys both have valid points. Although I value WCPs well thought out and often critical point of views, I'm going to have to side with Schreibzey on this one. I've been a long term OYL holder btw.
Yes, mismanagement got them to the point where they were going to lose these leases next year, but we've know that for ages. For that reason this shouldn't be considered a new negative event. I truly don't believe these other licenses added value from a buyout valuation (not this close to the end of the licenses). You could say this move signals confidence in what they see in Corentyne, but mostly its a sign of good faith towards the government. Essentially turning contingent liabilities (upcoming penalties) into a "gift" to the Guyanese government - strengthing/repairing relations which may benefit the deep water port, lead to smoother/quicker gov approvals should a JV deal materialize and possibly (less likely though) better terms on the future Production Sharing Agreement if they get to that point.