re: Ann: Otto to Farm-out SC55 to BHP Billito...
yep looks right on the MONEY, BHP digging deep into rich pockets.
this is almost a FREE RIDE for Otto..and the drilling of two deep water exploration wells in consideration for the transfer of a 60% interest in SC55
BHP Billiton has agreed to reimburse Otto for back costs and pay the full cost of a 3D seismic programme and the drilling of two deep water exploration wells in
consideration for the transfer of a 60% interest in SC55. Otto will retain a working interest 25%. BHPB will also be appointed operator of SC55.
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