The free carry was already in the deal, so why would Macquarie forgo $15M for something they were already entitled to?
CTP owed MQG $15M cash plus $55M+ free carry work program if NGP was approved.
I suspect both parties recognised that the $15M cash was a big burden for CTP but chump change for MQG, so they agreed to void it to let CTP spend the money on drilling instead of paying off MQG. But they're not a charity so I've no doubt they are making CTP pay for it in the revenue stream of the joint sales agreement.
The free carry was already in the deal, so why would Macquarie...
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