the comments below make me think it could well be better for otto than 1 for 1 or just a straight 15% spend, why would there had to be "terms to be agreed" if it was a straight 15 % ?
Also may turn out to be the case that PNOC increase their % at some stage?
The commercial terms of the farm-in have been agreed and will be finalised in a Farm-in Agreement to be entered into by Otto and PNOC-EC. The farm-in is only subject to approval by the Office of the President of the Philippines.
the comments below make me think it could well be better for...
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