RE: Quick Question17 Jan 2023 11:12
Hi ART,
I don’t recall a hard deadline being mentioned but it’s apparently due this month (think it was mentioned in the Webinar IIRC). I posted this yesterday:
- Dunrobin 3D Study (Overdue now as stated in @AllenbyCapital broker report)
- Chuditch CPR (due this month to confirm the 3.69tcf recoverable #gas reserve figures)
- Potential farmout / sale of asset following the 3D study & CPR:
Farmout
The Company continues to evaluate options to secure further investment for the Chuditch project, including an ongoing farmout process, which is accelerating with the availability of the revised interpretation. The Company remains in talks with multiple potentially interested parties.
The combination of the PSC extension (expires on 18/06/23, as per below), availability of the new reprocessed 3D seismic data, and the external validation of Resources that are to be provided via the CPR will be of significant benefit to this process as we move into 2023.
PSC Extension
As announced on 18 October 2022, SundaGas was granted a six-month extension to Contract Year Two of the PSC which now expires on or before 18 June 2023.
Webinar - https://www.youtube.com/watch?v=NDgIbTm7n94