RE: Slightly Relevant1 Aug 2025 07:22
If I had a pound for every time I had to write this 😂
EME have stated already that they have formally rejected all claims, submitted a request for clarification of the demand basis, and emphasised its intention to maintain dialogue and resolve the matter amicably under the contract’s dispute resolution clauses. Most likely scenario is EMe will lose the expired licence to drill that project and it will get redistributed elsewhere, in consideration for the claims against EME being dropped.
They have also formally requested an extension to comply which, if accepted will result in the claim being dropped anyway, in consideration for EME fulfilling their drilling obligations.
This has been discussed multiple times over the past few months and isn’t an issue for most LTHs.