Stockhocker,
The questions you pose are the crux of this unfolding drama. Yesterday I posted that we have reached an interesting fork in the road. The big variable in our equation of course is the signing date for the PSCs. With CVX spudding in block 1 our concerns over delays have taken on a new sense of urgency. TopDrive is correct in that the PSCs need to get signed before the results of CVX's well in block 1 is announced. The mid Feb. date mentioned by Lusa's quote of Deolindo de Costa is the only timeline mentioned-no other confirming sources yet.
I suspect over the next few days more concrete news substantiating or disagreeing with the mid Feb. date will surface.
The bowing out of Noble and Devon has been disturbing and if a duster is the result in block 1 one has to wonder about the ramifications-they can't be good, but also could have no bearing on our current partners. On the other hand, confirmation of oil may whip the political fires in STP and result in further manipulation by the aspiring powers to be.
The Nigerians need to step it up and close this deal ASAP. They have the ability to do so at anytime, they just need to drop the hammer on STP before these delays take on a life of their own.
One has to wonder who from STP is behind the request for delaying the meeting this weekend. Trovoada sits at the top of my list. Of course there are plenty of other candidates, but this guy just seems to be a thorn in our side. De Menenez is trying to weave through a political mine field and has been very indecisive. Nigeria needs to lean on him now - he owes Obasanjo for the coup rescue.
Finally, could someone refresh my memory and help me understand who da Costa is mentioned in the following quote from Lusa:
"In comments to Lusa Thursday, Deolindo da Costa said the meeting of the Joint Ministerial Council (JMC), due to take place the same day in Abuja, would be rescheduled to another date in the middle of next month.
Other thoughts greatly appreciated!
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