bianchi-1 zola appraisal, page-11

thisisjamo. I disagree that the J/V Agreement would force them to participate. In many J/Vs participants would not have the legal right to withdraw until the objects of the J/V had been met.
But with the J/V to explore WA-290-P what is the J/V's objective? Is it to drill 1,2 or ten wells? Drilling each well would be a J/V on it's own. For example "After technical review of available data, Tap elected not to proceed ...
http://www.tapoil.com.au/irm/content/annualreport/split/4.BusinessReview.pdf