Reading the end of the last half yearly report am I understanding this right that MEC have a commitment to find $14 million to meet their commitments to Pep 11 for the next year otherwise they will lose these rights and the company could fold?
Also the company is looking for partners who can help with this by buying into PEP 11 and so meeting this $14 million obligation.Please let me know if I have this right or am I totally miss understanding the report.I am just a small man in the big share trading world and have lots to learn, but i'm trying.
1 more question and this relates to Bounty oil the other partner in Pep 11 how does this effect them as they are actually producing oil and could probably meet their percentages of this $14 million cost or doesn't it relate to them?
Cheers all and good luck
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