feb bhp farm out decision, page-5

Otto seem rather confident making an agreement about the drilling of the second well even before the first well is drilled. So otto are free carrying trans-asia through the first well of sc 55 but have now taken an option to increase equity from 85% to 93.18% in the second to free carry trans-asia equity. Just this alone suggests otto want to drill at least two wells. Getting more equity in sc 69 has much the same effect one would think they will get the 3d done before looking for a farm out or drill in the sc. It is a very interesting ann stating the obvious they are getting serious about these 2 service contracts