chinese, page-79

Posting again Crespo.

What you are saying here is a totally incorrect.

For example; You said "Conoco entered into the project for US$109.5m to gain a 75% working interest (if executed at the end of exploration). This means Conoco saw the total value of the project as US$146m in July of 2011."

US$146m is not the value of the project in July 2011. It's the amount for expenses which COP was happy to pay for this project during the exploration. It's a budget.

The value of the project is only considered in COP and PC agreement as $100m currently. It's a business deal. They had to put a value to this project that PC could pay a value and get their share in it. Otherwise they can't make deal.

I explained this before, but you didn’t want to make a comment.

This is how it is; COP is going to get $29m from PC. Then PC will pay its shares for the expenses for the project. There will be no more talking of project value after then till a new valuation is required for a new deal. The new value can be more, for example 3 billion dollars,… or less, or nothing.

All parties are saying on their anns. that they are pleased by this agreement.

NSE is pleased,
COP is pleased,
PC is pleased.

We, NSE shareholders are pleased too.


You said "Goldwyer will be huge if we hit hydrocarbons".

Yes, it will be. But this is the business. You have to make predictions. That's what PC is making; predicting that Goldwyer is prospective and investing money on it. Isn't that right?

When NSE hit the hydrocarbons its sp will be at least 5 fold of where it is now.

What are we arguing about then?