Good Morning all, I totally disagree with you AT THIS MOMENT, But I think it's prudent to wait and see what the RNS has. Few wee bits of news (words on the street) from the island making me very Happy to hold for the big day.... Each to their own I have no problem with that....IMHO...50p...DYOR please..
Noble will probably seek a rig within the next few months after securing the extension of the licence and embark on a programme that allows them to drill within the next nine months , they will not be granted an extension if they delay to 2018 and also have no wish to get into bed with PMO. They always wanted total 100 per cent control and they have that and now POO is recovering they will hedge their bets that on the success of the Argos licence they can start producing in 2020 . I have always said Noble will be the first to produce , whether or not they later take over parts of RHK and PMO is another matter.
Noble would not be going to all the trouble of extending the licence , if they were not convinced that the prospects were not worthy of drilling. Hence Wordog is right , rhea will not be the only drill as it would be financially stupid to drill one well , so the ER fiasco has effectively done us a huge favour, plus the POO is slowly ticking up, to make production a reality rather than a hope . When the agreement with FIG and a rig is announced this share is not going to be worth 4 pence !!!
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