re: Ann: Service Contract 55, Philippines - R... from the very first announcement they stated
if bhp farmed in and drilled 2 wells they would get 60% and operatorship of the operation. They would have to pay for back costs and the cost of the 2 wells. estimated to be worth ~USD$150 million to otto.
If BHP farm in but decide to drill only 1 well then they will retain only 30% interest and give operatorship back to otto.
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re: Ann: Service Contract 55, Philippines - R... from the very...
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