htrocka, I am in the opinion that banks are supporting the 7H project and the agreement with Innogy is for lower level of supply than last year in other words they are only supplying what they can extract from 7H. The production is continuing at around 25mfc or more, it is covering all operating costs.
There could be a recommendation in the technical report is to gather more seismic data before they drill another well,and I think that as much as they wanted to carry this recommendation last quarter, it was not possible so they are going to do this excercise in the first quarter of 2005.
They definately realise the shareholders anticipation and expectation of an announcement in December or before but could not do it as they are going through advanced deals on farmout and joint ventures.....IMO
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