Yes Jetson it would certainly appear that todays announcement...

Yes Jetson it would certainly appear that todays announcement possibly explains the recent fairly heavy falls in PPP's share price. My interpretation is the same - that before PPP's farmin is approved PetroVietnam has the right to pre-empt and take the farmin instead - so if they intend to take the whole lot then PPP will have no interest as you say.

Very dissappointing news - the only saviour would be if PetroVietnam didn't take up the whole lot and PPP still got a small participation but either way a kick in the guts.

Its already been sold down quite a bit from the 60c mark so it might end up being a case of 'sell on rumour/buy on fact' (the opposite of the traditional adage) but I have no opinion on where price will end up short term.