neo/opl pre open, page-18

re: mr x Mr X. Trading 'participating interests' between JV partners in oil companies happens all the time.
The positive thing is , if Area A and B were not highly prospective blocks (as proven by JH1 , albeit with full details only known to the JV at this point) then there would be no such deal done imo.
NEG are still very much involved , I simply think that they were reluctant to spend the big cash chasing the oil elephants in the 'deep' vs OPL/NEO want to push on and test these plays ASAP!
Explains the hold ups to date , and the odd reference to JV 'disagreements' over development strategy.
You may even fing NEG have 'hedged their bets' also by buying into OPL and NEO ...
Bring on the drilling .... I'm more confident than ever that the whole permit is 'filthy with cheaply extractable , highly profitable, shallow gas' and positive c/f for OPL/NEO will be a matter of months..... then its time to go elephant hunting in the 'deeps'.
SALTY