I like the idea.
So how do you base the amount of free carry?
If we take the 2c 561 million barrel at a fair price of USD 5.0 then 35% - USD 430 million = USD 552 million free carry
Or how about after the hoped for upgrade to say 800 2c then you be looking at USD 1.0 billion.
Hence nice idea but I can not image WPL giving the remaining JV a USD 1.0 billion free carry.
So it is not going to happen
IT all comes down to CNE, page-178
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