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theory on galoc

  1. SP3
    18,622 Posts.
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    The jv partners have not been able to seek funding (US$40M) for the project within the 90 day time frame. Whitby and co. are not happy and are looking for alternative partners. (eg NWE, and maybe INP). Given the golden opportunities that exist at Galoc he will have no problem finding others to join him. Whitby has now lost patience and will not grant the extension (one would assume they have asked for 3 more months)because he wants to start appraising the field now. I believe there will be an announcement saying the extension has been declined and the same time he will announce the new partners. My guess is 29 Jan.
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