Re: 2016 Deadlines Looming
My take on this:
If the Ebola situation doesn´t improve, the government of Guinea will extend the exploration period. Uniterally cancelling the concession won´t benefit anyone. Apart from losing a potential giant resource, the government will likely be subject to legal proceedings from members of the JV
In recent months, local newspapers have been informing of permanent meetings of government officials with exploration and mining companies (including Tullow), regarding the health situation and its impact in business operations.
Apart from that, Guinea is trying to open a new license round for a number of offshore blocks. They will try to do the right thing in the current critical situation, in order to attract foreign investors to participate in the bidding round. Taking the concession out of an operator that refuses to drill due to the health sittation won´t help them in the eyes of the investment community.
Just my oppinion
Fernando