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Wednesday, March 16, 2011 11:30:40 AM
Just a minor (perhaps not) point. I don't mean to split hairs.
I wouldn't be at all surprised if SNP/Addax see themselves in the proverbial "cat bird's seat" in their negotiations with the JDA. I doubt the JDA wants to get a "no" or request for further extention from the existing operators on moving forward with additional exploration. At best, that would set the clock back for years. I'm sure SNP/Addax know this and might therefore press the JDA for some kind of "special treatment/concessions" one might not ordinarily receive. With this in mind (if true), operator/JDA negotiations on a Phase II might take longer than any of us would wish.
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