RE: RNS8 Nov 2017 14:49
foxm I'm going on past experience of the board and there over optimistic timescales ,you say that JM said "to be completed by end 1H 2018, Insh�Allah",then why in the 10th August RNS they are still stating that " A more comprehensive update will be provided in due course, but the project remains on track to commence later in 2017.� if the timimg had changed to 1H 2018. I would think the board should be singing from the some songsheet on this projection
Also it seems there is a presumption that all the work for production of MSAR has been completed at the said refinery if that�s the case then your estimations are probably correct but nothing has been confirmed from the board as to whether this has taken place and I would have thought that this forms part of the contract negotiations which is ongoing. If this has�nt been completed then going on the CEPSA experience it adds at least another six months onto the trial time