The actual FDP is a tiny document compared to the ES
Xcite will have had their own assigned multi disciplinary team from Licensing, Exploration and Development Branch of DECC to carry forward technical discussions on the field. Each team will be headed by a manager authorised to take technical decisions on behalf of the Department and to co-ordinate, where necessary, the Department's response on policy issues.
the Department's aim, where there are no major unresolved issues, is to complete its review of the final submitted Field Development Plan within one month. The early review of draft sections of the Field Development Plan, as these become available, will help it to achieve this aim.
It's more about time to submit rather than time post submission IMO
If we're still awaiting that approval 23 months later, why would a new FDP submission take less than 6 months?
Unfortunately once again you show your naivety, we will not get approval until we can technically and financially demonstrate our ability to develop the field, as we are all aware the financing package is the key component now, so we are not still awaiting approval, the approval clock will start ticking once the formal FDP is submitted, and yes I too think it will be RNS'd, it will be an absolute milestone that funding has then been secured.
It's going to be very interesting meeting you are the AGM, how far on with arrangements are you with attending?
I agree that the reserves assessment report from last year states that a revised FDP was submitted, for which 'approval can reasonably be expected'. If we're still awaiting that approval 23 months later, why would a new FDP submission take less than 6 months?
As the company has stated there is ongoing dialogue with DECC, I think it is more likely that drafts are being submitted regularly to ensure no loose ends when they submit the final version with funding. Which may be what you're saying too?
I find it inconceivable that a formal FDP can be submitted without an RNS.
surged into late trading looking very strong for more uptrend.
Ive noticed several junior AIL oilies all recovering BLVN, VOG, TPL even AFR also very important big names in commodities recovering BLT RIO ect reckon oil and metals stocks all going to be flavour of the month/summer.
We could see tremendous short squeezing in all mining and oil sectors in next few weeks ahead of China easing.
Don't be so sure. If you read last years reserves report, it states that project sanction and FDP approval from DECC is expected around 3Q2014 and the start of production planned for 3Q2016. So don't take what you read in this year's report as set in stone.
Having said that, the December report from Edison Investment Research has heads of terms in H1 2015, and the finalisation of funding and FDP approval in H2 2015. It also had ES update in Q1 2015, and as that deadline has come and gone it would be reasonable to expect an update on the environmental statement before FDP submission.
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