"What am I missing? Why is the prevalent thinking that the JV is limited to these 3 wells?"
You're not missing a thing Cmon. I think the boys are 'in the showers' to use the football vernacular, and there's quite a bit of towel flicking going on.
For the record (I might have started something yesterday by toying with an idea or two)
...THE JV GIVES HK 70% OF THE WHOLE PROPERTY!
akk takeover target halcon must be looking, page-31
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