palta--wa-384-p, page-6

whatsup

to get granted leases is a competitive process. they commit to studies / well during the term of the lease, usually 5 years

Palta was a wildcat, pure and simple. sometimes it works, most of the time it doesnt. welcome to the oil patch.. they will use the data and apply it to other parts of the lease.

shell has tied up a lot of leases , if they dont drill, worst case they can lose it, and be barred from future bids.

Baraka