Very interested to see the terms of the PSC. I know that at Oil Barrel Rob Shepherd was talking about the blocks to the west (stranded shut in oil discovery) and to the east (Afrens block).
He spoke about "gaining access" to them, which I assume isn't just arranging with the operators to work in line with them, but gaining some ownership of their licences.
I know that Afren are currently renegotiating their licence to the east (CI-01) which they suggested means they will gain access to acreage to the east of their block. It would be fantastic for RIA if they could gain access to some of the discoveries in CI-01. Afren have stated that they will not lose access to these discoveries but have not said anything about keeping the same equity interest. They have already stated that their licence (CI-01) will be broken up into 2 licences, if the equity stakes were to stay the same, then this would seem a bit of a pointless exercise?
So their could be something working here behind the scenes. Not too much longer to find out, as we should know something in the next few weeks as the current PSC expires on the 8th November.
RIA Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
