Latest Statement Well i fired an email off to the management about the snails pace that these guys work @ & about a dividend payment & got a reply from Mr Beardsall along the lines of all the funds are being held to find new projects etc & no we have no intention of a dividend payment or a share buyback . So back to your golf & comfy chair guys & back into the bottom drawer for this lot But fair play he did reply which is the 1st time i have had a response so i think i must of hit a bit of a nerve .
Keep it up Burmese, don`t care how much substance there is or isn`t , I`m looking at a few avenues myself.... Good to see some banter some questions, some chat about a potential that could be in play or could not be.... This forum died some time back about the time of the last CR,,, a good jolt of life is most appreciated...
The seismic programme is expected to commence the fourth quarter of 2014.
Dependent on the establishment of a target from the seismic programme, Tullow has also committed to a full carry of cost to drill an exploration well on the block.
Pursuant to the agreement, Eco will initially transfer a 25 per cent working interest in the Cooper Block to Tullow in return for a carry of its share of costs to execute and process the seismic programme, and the reimbursement of 25 per cent of past costs in an amount to Eco Atlantic of approximately USD 1m.
Following the first transfer, if Tullow elects to participate in the drilling of an exploration well on the Cooper Block, Tullow will be transferred an additional 15 per cent working interest in the block, in return for a full carry of the company’s share of costs to drill an exploration well on the block (capped at USD 53m) and the reimbursement of an additional 15 per cent of the past costs.
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