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clock Created with Sketch. 12/05/23
18:54
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Originally posted by psi81:
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STO had an option to carry CTP for $3M but that was before the Peak farmin. If STO didn't take the option then CTP's equity in Dukas went from 30% to 45%. They evidently didn't take the option as part of the farmin deal so CTP's equity went to 45% and then farmed down to Peak back to 35%. STO's equity went from 70% down to 55% since they didn't take the option, then down to 30% once Peak farmed in.
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"""This creates an unusual situation where the operator (STO) actually has the smallest interest in the permit out of all the JV participants."""
