rig availability, page-63

Thank you Anatol for generously sharing all of your diligent research! I appreciate it.

Today's Ann from COP & PC means that PetroChina are up for funding the 4 drills together with COP.

Neither earn any stake without the funding & completion of all 4 drills proposed if I'm reading the GJV Farm-in Ann correctly?
Please read below


"The farm-in agreement contemplates ConocoPhillips funding up to US$119M over four phases of unconventional hydrocarbon exploration work, including the drilling, coring and evaluation of multiple wells. In return for funding the phased work program ConocoPhillips will have the right to earn up to a 75% working interest in the Goldwyer Project which would reduce New Standard’s working interest from 100% to 25%. ConocoPhillips must complete all four phases of work to earn and retain its 75% equity interest in the Goldwyer Project otherwise 100% equity will revert to NSE."