Spent a lazy afternoon reading the JV agreement, interesting reading it makes.
Can't end up holding less than 10%, if we've got an offer we accept, Conoco/Petrochina have 20 days to respond under preemptive right agreement.
Things get really complicated if the deal includes other parts of our assets (ie Brazil Peru) and then could drag on for ages.
That said - 20 days is nearly up - Wednesday announcement - 30% for $750m.
Ann: Pharos-1 Progress Report No 2 , page-37
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| Open | High | Low | Value | Volume |
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