That is good news for all the Philippines acreage holders and a real "rabbit out of a hat" for Otto.
I would imagine the past costs which are to be paid out won't be a huge sum as the only Otto costs would be a couple of hundred km of 2D??
They will still need the RI back producing at Galoc ASAP to keep the banks at bay in the short to medium term.
But good work to all involved - a very good deal in the current climate and secures the 25% for Otto with a technically competent partner to operate for them!
p1000
brief message from parks yesterday, page-2
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