Cash to CTP from the Santos and Total JV deals:I have just...

Cash to CTP from the Santos and Total JV deals:

I have just listened to the DJ Carmicael call for the umpteenth time and for the first time picked up these snippets :

At 6m:53s into the interview he says:

"... once obviously condition precedents have satisfied in both the Santos and Total deal there will be some money that has been expended that will come back there will also be the ability to charge for ongoing work from the date of signing of the agreement

The bit that interests me is where he says "...there will be some money that has been expended that will come back ..."

Not sure how much, but it looks like there will be some cash / real dollars flowing back into the CTP coffers as a result of both the Santos and Total deals.

(it is normal practice to seek a refund of past costs such as lease retention and previous exploration costs. So possible for the 70:30 JVs for CTP to get back 70% of past costs expended on the retention and exploration costs on the leases up to the date of signing the JV agreement - looks like this may be what Cottee is referring to!)