RE:RE:RE:RE:Last NRRoyMax123 wrote: Look below in bold, what happen
if not executed ? that will mean no increase in ownership, but will SNV hold back the RR as well ?
"Sonoro will commence immediate work to complete a detailed reserve report as per our Memorandum of Understanding and we are looking forward to our partners participation in Sonoro, which
if executed, will increase the Companys ownership of Selat Panjang from our current 25% ownership position"
MJB4231 wrote: Mr David Kirk, President and CEO states that this is a significant development for Sonoro for developing the project towards hydrocarbon production at the Selat Panjang PSC. We are re-engaging with our partner after a period of little contact during the covid restriction period and collaborating to resolve any previous issues that have stalled the progress of the PSC. Sonoro will commence immediate work to complete a detailed reserve report as per our Memorandum of Understanding and we are looking forward to our partners participation in Sonoro, which if executed, will increase the Companys ownership of Selat Panjang from our current 25% ownership position.
Roy yes they will. They confirmed with me will not announce the Reserve report without a JOA in place which also moves Barrels of Oil on the reserve from resources to reserves which command a much higher value...and stock price. This is reason for delay but word is we are just about done...can taste it now.