One sentence strikes me in Steve Millan's reply: 'Assuming SPE has earned, then further operations are governed by an operating agreement under which any interest holder can propose a well.'

'Assuming SPE has earned' seems to cast doubt on whether SPE has actually earned into the last well and is still attempting to do so. I have said several times that I believe SPE came out of K39Z with a debt. So if we assume SPE has not earned yet, can none of partners propose a well, or could either CIVC or PDIP propose a well, though it might leave SPE out in the cold.

Regards

Dunnock