RE: Extension of Option Agreement with Jubilee16 Nov 2021 14:05
If anyone's under the impression that this RNS means 18 months to a JV, I think they're wrong. Jubilee's work at Troulli is proceeding apace, as it was before the RNS. If a Troulli JV is indeed imminent - and it looks as though it probably is - Jubilee will proceed to.. quote from RNS "... design, finance and execute construction of any processing plant and become its operator." The timelines required for that to start producing are the same as they were pre RNS only now we have slightly more clarity and a sense of certainty."
The options extension applies to the entire Cyprus portfolio, to give Jubilee a chance to see them all. The Troulli operation is proceeding as we speak, and a JV, all things being good (and they look good) will happen soon.
Anyone who believed in this investment before the RNS should, in my opinion, continue to do so as nothing has changed. On the contrary, we have greater clarity and an improved likelihood of further JVs on other sites thoughout the country. Surely very cheap indeed at this price?