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From the RNS:
On Block XX, the Company continues to push government on certification of the Exploitation Area as special purpose land and finally conclude the process. The Ministry of Construction and Urban Development has completed its internal work and has submitted the documentation to all other government ministries for comment prior to submission to Cabinet.
· The Velociraptor-1 exploration well was spud on the 14th of June - targeting 200 million barrels
Encouraging results in the Velociraptor would significantly de-risk two adjacent prospects on the Raptor Trend (potential of an additional 375 MMbo).
ALSO IN THE RNS: "I very much look forward to update you in the coming months with our progress on MULTIPLE WORKSTREAMS now in play"
Great buying opportunity (IMO)
Nice WOS... As RNS said looking forward to updating you on MULTIPLE workstreams..... EXCITING TIMES
"I very much look forward to updating you in the coming months with our progress on multiple workstreams that are now in play.
WOS " "along the direction of the oil pipeline" does this imply just for land issues relating to pipeline not necessarily "Heron"?
Hoping it relates to Heron but I been hoping for a while!
I think it will be issued not just sure when. As you say there is still plenty to good news flow in the up coming month/s....
GLA
They raised funds so they could drill VP. If MB new LP was coming he would have held off on the raise. Holding back on VP will incur further unnecessary costs!
There is a delay but fundamentally not much has changed. Could be a good buying opportunity if you believe it will eventually land or even better VP is successful!
Agree Dozzawba. The Director's statement was a little cleared but still need someone to help with their PR....
As required under the government's Exploitation Licence application process, a Plan of Development (PoD) has to be prepared by the Company and approved by the Mineral Resources Professional Council (MRPC). The approval of the PoD is the final step in the Exploitation Licence application process and after the clarifications requested by MRPC were provided by the Company, MRPC members signed off on the outstanding items and the Council is now finalising its conclusion. The formal application for the Block XX Exploitation Licence has now been submitted to the Ministry of Mining and Heavy Industry (MMHI) requesting the Minister to award the Licence.