Hi Dan - best wishes to you - and that was the cheapest beer-n-chips you ever bought - at least you got you're money out.
I think well done ROC - but the devil is in the details with these PSCs. Granted ROC is participating at 50% of 1,000 bopd but the cashflow is quite different as I understand it,
First thing to confirm is the type of PSC thqt applies - I want to say it's probably ROC or R/C (as in Revenue Over Cost)??
Here is a presentation to follow: http://www.ccop.or.th/ppm/document/CAWS4/MalaysianPSC.pdf
Suggest y'all read it to understands cash flow implications.
Also read (from page 3 to 4) http://rovicky.files.wordpress.com/2008/02/ipa07-bc-127.pdf
Now if someone (um Auto?) can explain the ROC.AX annc in terms of capital inputs and cashflow outputs of PSC.
It is nice though that they can book the Reserves right away!!
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