Hi Homeales, Thanks for replying. Probably the last thing on...

Hi Homeales,

Thanks for replying. Probably the last thing on peoples minds at the moment, but just to clarify further:

Re: "From memory upon DOC Petrosen is responsible for its 10% share of costs and has 6 months to decide whether to take up its 5% back in"

From what I quoted from your Jan 2015 post that probably got lost to you up near the beginning of this thread, upon DOC, Petrosen actually has 2months to decide whether to take up its 8% back in (not 6m & 5%). If it does then it would pay 18% pro rata from DOC date.

and re: "The DOC relates to the discovery field but the question remains what is the extent of the field. Have these 3 wells been enough to delineate the two discoveries FAN and SNE"

Still not clear to me what the definition of "field" is in this situation. Does it relate to the whole block, in which case Petrosen's back in would be for the whole block, or can the SNE discovery (or SNE + Fan) be treated separately so that they "back in" to that bit only with the JV continuing to carry them for continued exploration/appraisal on the rest of the prospects??

pj