there was no choice, they had to drill Zapato so the JV conditions could be fulfilled. and remember, were up for 15%, so we have to take that while its there. The JV partner would be eager to see it through too, lol. We're on a 70/30 split after Zapato.
I think somewhere, AP needs to tell us how much the Alameda-1 well cost and how much MAY paid/has remaining to pay. This is a pretty critical piece of info that is missing atm. Last Qly was a bit ambiguous for me. It showed us having forked out $26M, but only $15M came in from JV partner...
Ann: Zapato-1 Drilling Update, page-187
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