The volatility in SP, if you can call it that, is due to the few who bought thinking this was going to be a take over right now.

Not sure why the company would entertain a bid without the CPR, in which they know it will blow the socks off of all of the analysts.

Wouldn't the talks of a take over by any company be material and should be shared with a NR instead of some well placed funds and private investors.

I personally think that the delay has everything to do with getting the language of the contract exact. If for whatever the reason there is a take over before the rig arrives, wouldn't the oil services company want to be compensated if there is a cancellation.

Wouldn't any prospective buyer be more enticed to make a bid if the contract is such that for a sum, they could get out of the contract if its not to their like?

This takes time to hammer out legally and would explain why this was a mutual benefit to both sides of the contract.

Steady as she goes boys, at this moment, we are going to see first oil by the end of the year.

Just need to wait.

And oh ya, if the anticipated production was 64,000 bpd before their flow tests, maybe we could expect more than that.

Andy