Not quite.
What we retain is worth more than USD 146 mm because we retain 20% of the eastern permits, incl Pavo.
But there will be some tax to pay. Not sure how that might work with the structured payment, and whatever losses we have accumulated???
I guess there’s a discount too for the deferred nature of USD 90 mm.
Ann: Partial Bedout Divestment, page-17
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