Giving away 33% is poorly worded at best.
TPD spending around US$5m.
The drill results net TMK another US$800k either in cash or TPD shares.
TPD brings David Casey expertise to the table.
50000 shares @ $0.02 = $1000 so no one is lucky or getting a bargain
TMK didnt own Gurvantees so these performance shares are part of the sale, you're looking at it completely wrong.
How much did TMK hand over for the project for their potential 4TCF?
How much have TMK invested in the project?
This is a cracker deal for all involved and two little unknown Australian gas explorers are being wined by a US$200b industry giant.
I assume TMK take the US$800k from TPD.
TPD will fund the majority of the pilot wells so it will depend on when the 2023 drill program begins and the cost as to how soon a CR is required.
I wouldnt be surprised if PetroChina chuck some $ on the table before the MOU expires.
How that looks i have no idea but all parties have their eye on the big prize and they aren't going to miss the forest for the trees and will progress this very quickly.
Success is never guaranteed, TMK have got their hands on a monster for very little cash upfront so they had offer a significant payday if the project is successful.
Have they offered to much is not for me to say.
As a shareholder I'm looking at each share owning approximately 1GJ of gas.
Layman's terms 2c share owns around A$15 of end product.
Shalom
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