Hi Entropylord,The normal buy back provision on a wildcat well...

Hi Entropylord,

The normal buy back provision on a wildcat well would be seven times the cost of the additional equity contribution. This would normally be taken out of future production/ revenue.

At 50% equity it is a really gutsy call for PPP. However given that it is chasing a play type which has already been successful in the area is encouraging.

Whilst I am not adverse to sole risking, it is noteworthy that the major part of the additional equity came from Mitsui. They obviously had better prospects for their exploration dollar or a budget issue.