"Surely PPP has to know before they commence the second spud, i.e. do they contribute or not, and if so how much?"
Well you would hope so shirleyac. That is you would hope that PetroVietnam would reveal it clear intention on how much it intends to take .....all of the 15% or what portion of the 15%.
But the reality is that here we are on the eve of the spudding of the second well in Block 07/03 and we still have heard nothing.
I'm no expert on these arrangements but I guess if PetroVietnam does not reveal the figure before the spudding of the second well then PPP will have to stump up its share (15%) until PetroVietnam reveals its decision. Then PPP would have to be paid back its costs in proportion to the share that PetroVietnam takes as its share in the Block.
I mean Premier has been very quiet. PPP management have been extremely quiet. Nobody is revealing anything.
We are just left guessing
PPP Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
