just a theory ..., page-40

Hi Kahuna,

Great post I must take my hat off to your research and the time this must have taken you.

It would be interesting what the JV partners thought about Sterling funding the goverments portion and if any of the partners thought about it or were offered the oppurtunity.

One thing I dont understand and that is becasuse I may not be reading the releases accuratley enough is the 150% pro rata costs. I was under the impression that they have to pay 12% of any future costs estimated at 600mil and 150% of any past costs. Does this mean they have to reimburse the JV partners 150% of all the costs thay have spent prior to the 600mil??? If so then what would the payment be to Hardman

As they were free carried and partners like Agip have left who would get the money, how much would it be and how would this be paid? The press release says reimbruse to me that means make a payment.

Thanks again for the post


Treva