ADE adelaide energy limited

icn--ade--bpt, page-5

  1. V8
    10,911 Posts.
    lightbulb Created with Sketch. 214
    218 was initially wholly owned by ADE, then BPT farmed into 90% for $25mil.

    So 218 BPT 90% and ADE 10%

    855 Only awarded last year to ICN 80%, DEKA 10%,WELL TRACED 10%

    DEKA and WELL TRACED are wholly owne subs of ADE

    So 855 80% ICN 20% ADE

    Now BPT are attempting to take 40% of 855 via a farm into ICN's 80%

    And

    ADE have farmed out 12.5% of 855

    So end result of 855 could be

    BPT 40%
    ICN 40%
    ADE 7.5%
    Primary 12.5%

    Current state of play, BPT and ICN having spat over details of farmin AND who who the hell is Primary?

 
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