Team, response from Dennis advised they are waiting for the DOE...

Team, response from Dennis advised they are waiting for the DOE to approve a contract extension to give GGX time to evaluate and research the best completion technology to maximise the oil production rate.
They haven’t ruled out either pursuing M-1 further, or drilling a new well. Which ever will give the best results will be pursued.
They expect approval to be in the next 4 – 8 weeks. Once approved they can then engage a farm-out partner which they are confident in attracting on acceptable terms.
I’m not pre-empting, but it seems they may have a partner sitting on the sidelines awaiting the DOE approval.

The seismic survey approval for France is expected around end of November, which will allow the survey to be carried out 1st half 2015. They are also hopeful (But out of their control) to have the first licence (Tartas) approval from France by year end. The French Government must be difficult buggers to deal with !

We should see the next ANN once the DOE has responded.

Hang tight.......