What ridiculous conditions of sale.
USD1 mil paid up front and the remaining USD2.5 mil in staggered amounts IF a discovery is made that exceeds 100million barrels.
Now, why the farq would you sell your 'small 10%' interest under those terms? If there isnt a discovery what happens to the remaining 2.5mil that is owed?
And if there is a discovery of 100mil barrels, what would that be worth to COE if they kept their 10% interest?
God knows what Mike Scott & Co. are thinking.
I'll post Mike Scott & Greg Hanc ock's email address' on Monday
cambodia sale not impressed, page-10
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