I disagree. I don’t think there is enough info to write it off. I think if we can work with BHP and have the support of the DOE we could get another partner.
We could take on some of the cost of the drilling to make it more attractive. We could offer say 30% in exchange for half the cost of the drilling with the option for the new partner to move to 50% by repaying Otto 4x the cost of our share of the drilling, or something like this. On success we would revert back to our existing ownership and have a big chunk of extra money assuming the new partner exercised its option. Failure would see us out of pocket ~$50 mil. Not the end of the world considering there are no better things to spend the money on.
I just hope Otto focus on protecting our money and not our rights.
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I disagree. I don’t think there is enough info to write it off....
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