Looking forward to BOEM advising whether they will accept our bids on the leases.
When this is done, believe that Byron can then update the market on the status of SM74, ie time lines/farm in (if any).
If VR232 is accepted then there is no obligation for a farm in with Otto on SM74.
Maybe Byron will renegotiate the terms of a farm in with Otto and ask for 150% of well costs for 40% stake.
Does anyone know the normal acceptance timeline for BOEM to advise acceptance?
I note the max is 90 days.
BYE Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
