Wilson,
The other requirement was the formation of an exploraory unit, but I'm not sure what it is. See the below extract from the June 25 announcement.
The likely pricing variables for this transaction, as described above, can be summarized as follows:
All current holdings subject to the transaction
US$ 79.1 million
If the Exploratory Unit is not formed
US$ 69.8 million
If the Unit is not formed and the drilling operations are not
commenced prior to the leases expiration
US$ 61.0 million
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