re: lio Could it be something to do with this from LIO ASX...

re: lio Could it be something to do with this from LIO ASX Company update on 26th May 2006..........

"The Operator of the SNBB is currently engaged in a tender process to possibly divest of part of its 97.5% equity in the block and is therefore unlikely to commit to further negotiations on the drilling of Dawang and Solan until that process is completed."

Accordingly from this update I take it that Kufpac is taking tenders to relieve itself of itsd 97.5% holding in the Seram (Non Bula) Block Production Sharing Contract (SNBB).

Perhaps whoever is tendering for Kufpac's share wants a strong position on the 2.5% that LIO also holds.

Any views????