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Message: GOG Reports on the Arbitration Results.

The parties have 60 days, or such additional time as they may agree in writing, to determine the firm, entity, or person that will conduct the audit and prepare financial statements. The Management Committee has 30 days to meet to select a new Operator and must agree within 60 days on the selection of a new Operator, or such additional time as they may agree to in writing.

This is from ECU's press release concerning the arbitrator's ruling. The committee would presumably include members of both ECU and GOG managements. Their role was probably supposed to be to oversee the execution of the undertakings defined in the original agreement whereby ECU was to explore the San Diego property in order to earn its interest. They are now sidetracked into resolving the final matters in this dispute.

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