waiting game, page-64

Dear chillam,

I have found the links referring to the 20% figure for your information.

href="http://www.ihs.com/products/global-insight/industry-economic-report.aspx?id=106598220">Petrovietnam to Offer Seven New Offshore Exploration Blocks Published: 4/6/2007


In the event that Commercial Discovery is made in the Contract Area, PETROVIETNAM at its option may hold a participating interest of up to twenty percent (20%) in the total rights and obligations of Contractor(s) under the PSC, Contractor(s) shall bear all risks and costs (including but not limited to the financial commitments offered in the items below), until Declaration of First Commercial Discovery. PETROVIETNAM’s carried cost during the Exploration Period shall be fully recouped by Contractor(s), without interest, from PETROVIETNAM’s Cost Recovery and/or Profit Oil/Profit Gas entitlement (subject to negotiation of each contract).

see:- http://daukhivietnam.net/archive/index.php/t-1148.html

It was discussed in my post #9712287 of 17/09/13 @ 23:17