the tower option was discussed - they indicated not able to mainly because it was too big a punt!! and director of Tower on GBP board - too close corporately - that is their wording.
shareholder voiced their frustration at lack of progress. the directors cont to say of the 40 odd opps they had looked at - many too big a punt!! - shareholders indicated that that is what they are there for - to explore!! - and need to get some action
it seemed to me they are waiting for the perfect secure no risk JV - they don't exist and at some point they will have to jump and at $5m /2 years admin we will have less $$ to do anything
Tower's welwhitchia well target different to GBP's off Namibia - GBP is more the channel facies targets like in east Africa and FAR are going to drill.
shareholders voted on several resolutions were "defeated" by show of hands and so a poll of shareholder votes had to be counted - which of course were all passed - but we made them uncomfortable at least
that was about all.
the tower option was discussed - they indicated not able to...
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