Am I right in assuming that if Beibu is pronounced commercially viable CNOOC must fairly promptly advise its intention to take equity interest or not. And if CNOOC backs in there will be a substantial cash windfall (sort of) up front to each of the partners to pay for past seismic, drilling costs, investigation & modelling, etc? I'm assuming such cash contribution would also take into account the various farm-down arrangements between HZN, ROC, PSA & FAR, such that the latter participants (ROC & PSA) who contributed most would receive the lions share of this payment? And has anybody been keeping track of what this payment would amount to for PSA, say? Have I understood the situation correctly? Any thoughts welcomed.
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
