afternoon repeat, page-159

Baukaw, Under the current agreement with Hanlong, Sundance can no longer (or) is no longer able to negotiate directly with the Chinese majors. The companies who were initially at the negotiating table with Sundance prior to the Hanlong TO offer are now dealing directly with Hanlong.

Is that a correct statement?

If so then Sundance is not free to negotiate with all parties as that ability was removed and placed firmly into the hands of Hanlong to negotiate a JV the majors using the potential of a company they do not yet own!

If the deal with Hanlong falls through and the offer is taken off the table then Sundance will again be free to negotiate directly with Chinese majors. Who are still their preferred partner.

Is that a correct statement?


What I am saying is that the Sundance board no longer has the ability or the options to deal directly with the Chinese majors that were initially their preferred partner.

They have been hamstrung.