On reflection I have dug up the following:
October 18th 2013 announcement on Tullow farmin:
"Subject to identifying a drillable prospect, fully funding 100% of the costs of one exploration well to not less than 3,500 metres below the sea surface (see Tullow’s Rights and Obligations)"
So that wording has always been part of the farmin agreement, the latest announcement just maintains and extends the status quo - nothing new to read into it.
pj
ps Edit - Disclosure says not held, that's not correct, I hold.
Ann: Tullow Namibia EL0037 Farmin Complete , page-2
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