when MDs say nothing, its generally because things are not...

when MDs say nothing, its generally because things are not changing or are getting worse. if MD says something, he will have to explain how he got into that position, why didn't he do anything to prevent it and what will he do to fix it. The new MD was left a mess and he cannot change the Indian government, he cannot understand the problems he has and therefore, he has no solution.
this doesn't necessarily mean that he is winding the company up. it just means he hasn't yet come to grips with the problems and the solution.
IMHO, he has a very simple choice, drill a well on a sole source basis if he is confident that the hydrocarbons are there and watch the Indian Government squirm (if successful). If a failure, get outa town.
OR
just get outa town now and save the dough.

simple choice, hard decision, but a necessary one. just do it!
IMHO and GLTAH.