This is nothing but good news to me. The whole purpose of this hiatus was to get a handle on the concessions that were essentially given away and not worked. Ecuador simply wants the companies that lease these concessions to add economic value to the country and the locals...makes perfect sense to me. Were the methods well thought out....no but we are where we are and news like this tells me they're going in the right direction. Finally admitting that the 3 concession rule was illconceived is a big step. This has been widely speculated but is nice to hear it from the government.

The June 11 date was given by Aurelian as the date that the draft was going to the Presidential office. My view is that the extra couple weeks will be used to polish it up for the road show to retain investor confidence. Do they always meet their dates, no but name me a government that does. I recall with the Income Trust fiasco that the government never met their dates with regard to clarity.

The news lately, including this article, has been excellent from all sources. I am encouraged as well.