hawkeville term assignment

Past information and valuations from Patersons research notes.
22/10/09 valuation M$72
Quote regarding AZZ equity in the project.
"The exact terms of the agreement are not known however we believe AZZ retains a 50%interest in the wells following recovery of drilling costs by Petrohawk." (Page 5)

2/2/10 valuation M$73

17/6/10 valuation M$68

9/9/10 valuation M$51

Patersons are the outfit doing the buyback at present on behalf of AZZ.

They have been used by AZZ for cap raisings.

I would guess they are bang on with the 50% interest.

I realise the terms are confidential between Petrohawk and AZZ. This has been the only clue to AZZ interest.

Cheers