Beabau, the 22 Feb Presentation showed what the EXE fund raising/spending plan was over the next two years, not the commitment EXE had to contribute to drilling costs. I would expect that the CNOOC's $50m was a payment to EXE for their 50% interest in the tenements. What I am more concerned about is, what does their 50% interest in EXE tenements entail (without holding any shares in EXE) and, hypothetically speaking, how is that different to CNOOC owning 50% of EXE? I am suspicious of the sort of mathematics that may be at play here, Confucius says.
EXE Price at posting:
22.0¢ Sentiment: LT Buy Disclosure: Held
