Brenneman said Hebron stakeholders "remain positive that the project could proceed at a future date with the conclusion of a definitive agreement with the provincial government".
Work on the Chevron-operated project was suspended last month after talks with the St John's government collapsed.
The move led to provincial Premier Danny Williams taking a pot-shot at ExxonMobil, a Hebron partner, over its lack of enthusiasm for the heavy oil development and offering to buy the supermajor's stake.
Brenneman
