Time for the Doctor to go for a lay up.
Some background-update-info on ERHC's latest PR.
Condition for entering phase 2 is committing to either 3D or drilling, as we know by now. This gives CEPSA/ERHC some time to decide what to do, what to begin with in this phase.
Now WHY the extra time given by Kenya to decide what the exact next first step will be in block 11A?
The Original seismic program had a fairly large spacing between the lines that were shot. It is possible (a no-brainer imo) that the mapping of these seismic lines did indicate prospective locations, but that insufficient seismic was available to pinpoint an exact location to place the drillbit.
If this is the case, it is likely that they will do more seismic first (3D of course). But if CEPSA/ERHC can, based on the 2D seismic, locate an exact drilling location, then they will surely drill immediately.
This is very likely why the got some more time from Kenyan government. Time to decide/interprete if the 2D lines at the prospect location(s) are EXACT enough to place the drill bit at this point in time already.
Either way: they HAVE presented a plan to Kenya. In case it hasn't sunk in yet with some investors.
Hope this helps.
The Prof.
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