email reply about future developments from CFO. Let me know your thoughts.
The next wells in the Indonesian drilling program with the Ocean Monarch rig are Ajek-1 prospect in the Kofiau PSC and the Cikar-1 prospect in the West Papua IV PSC. Further wells will be added to the program as we move forward.
We are expecting that the India government will approve a new pricing formula for the D6 Block for gas sales from April 1, 2014. This could:
-improve our cash flow for fiscal 2014 and beyond,
-provide an increase to our borrowing base for our credit facility
-allow us to book some of our contingent resources as reserves upon approval of development plans for development opportunities in the D6 and NEC-25 blocks in India.
We are currently in negotiations with various third parties regarding farm-outs, non-core asset dispositions and other arrangements that have the potential to provide additional proceeds of US$135 million during the year ended March 31, 2013 and we are in preliminary discussions with additional third parties regarding further farm-outs and/or dispositions of certain non-core assets.