@funberg Hold on there buddy... from my reading of this I don't think it was Advent who pulled the rip cord, if I was to guess, I would think it was the farmor not the farmee who booted them. Why? possibly because of this "the recently disclosed potential acquisition of the OMV oil and gas business by US financial investor Carlyle introduced a material uncertainty into the planning process necessitating a review by Advent of the Agreement." source: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02612662-6A1128479?access_token=83ff96335c2d45a094df02a206a39ff4
source: 4 Apr 2022, ASX:MAY, Advent Farmout Agreement
It is a massive blow in my opinion. Previously the company was heralding this as such a great thing. I now consider it a waste of money (fees in the preparation etc, but I do believe they get all the money they paid them back) and time, and a damage to the reputation (you would prefer that your investments succeed, not fail).
Poor BPH, just can't seem to catch a break..
Ann: New Zealand Farmout Agreement Termination, page-5
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