chinese, page-40

This is how I see it.

COP has done an asset swap with Petrochina.

The deal has placed a current value on NSE/COP/Petrochina landholdings.

COP has to pay $39.0 million to NSE in exchange for NSE drilling 3 wells.

Then COP and Petrochina has the option to extend or drop Goldwyer play with NSE.

Simple really.

The only unknown is how much money been spent already, how much is needed to drill the final two wells.

And

Will COP take over operatorship of the drilling campaign?