RE: FOLLOW THE MONEY17 May 2023 12:53
Instruction from the top - in africa things only get done fast this way..
The Company is pleased to advise that it has this week received a letter from the Prime Minister of Cameroon advising the Company that he has given instructions to the Minister of Mines, Industry and Technological Development ("MINMIDT") requiring him to take necessary measures in order to accelerate the license extension process in response to the Company's request.
The Company and one of the rig contractors with whom it is in discussions have commissioned a leg penetration analysis and a leg extraction assessment in respect of the specific rig under discussion, based on the existing geotechnical survey, and this work should be completed shortly.
As previously disclosed, the Company is waiting for feedback from BGFI Bank Group on the outcome of its internal discussions, and is continuing discussions with various possible asset-level partners.