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Given the extraordinary time it is taking to arrange finance - and the changing rig market - does anyone know how the company's licence (expiring May 2023) will be affected should they (a) obtain funding but fail to secure a rig or (b) fail to secure funding by that time?
Most recent communication on the financing: "it cannot be certain of whwn final approval will be received, IF it is successful" . . . so all the "any day now", "imminent", "nailed on" comments are pure conjecture.
. . . to start another "no news before xmas" thread? Term sheet June 22, "any day now" September 22. Feb ruary 23 still no finance, no rig, soon no licence. Still, it's reassuring to know that we still have the all-important "long lead items" no doubt incurring rental and storage charges. "Quelle dommage, Rodders."
110p??
TrickyDicky2,
Never a truer word - after 30 years in drilling, I know all too well how things often pan out. The constant regurgitating of "news" doesn't change anything. One Drilling Manager I worked with used to say "If only we drilled the wells on paper".
The football team I support had a player called Ivan Sproule whose turn of speed was such that he gained the nickname "Electric Wellies". When he left, they signed a replacement who was hyped up as "Ivan Sproule on a scooter". Some weeks later after he had played a few games, one supporter was heard to comment "I think they meant a mobility scooter". I see the similarities!