Whisky,
Re "Bringing in a partner to share the drilling costs as opposed to bringing in a partner with the expectation of some free carry hints of carrying a high WI on this lease"
To share the drilling cost means you have to relinquish some WI as well plus some back pay maybe.
Not much different to FAR being free carried for a WI plus a reimbursement of expenses. Can't see any difference. It's good news regardless.
Mr Hustler,
It has to be CNOOC. I think the relationship here is more than meets the eye.
KKW
Ann: Quarterly Activities & Cashflow Reports, page-29
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