got approval, page-17

r u stating that the 250mill oppies belong to PetroSeychelles?

i thought they were in private hands, cos otherwise it would have to be transparent...

anyway, cannot see whn getting more than $5mill in backcosts, but that means that they will minimally hang onto $9mill ($14mill-$5mill) worth of the Seychelles project if they were to successfully farm out the lot.. 9mil/50-60mill is some 18-15%... so one would expect whn to be left with potentially 15% minimum of project if they farmout the entire work committment of 2D, 3D and drill...

i am still hoping they do not get left with less than 20-25%, but we shall see..

in general not too sure if the 31 jan 2014 timeline is good thing.. they must force a farminee to the condition whilst the farminee knows that they can get the tenements direct if they allow whns time to lapse ? maybe not... perhaps this would be construed as sabotage by courts at a later date and whn would have claims on the tenements if such a situation occurred by a potential farminee..

interesting times ahead remain...