Another excellent post SharpE...
Your post is totally consistent with my thoughts. I can also add one more piece of speculation on reading between the lines...and that is that the Open Briefing also commented that Operatorship is a possible chip to be traded. As I have said before, I do not favour giving up operatorship because it does give up control of the timeline to development. BUT...
I think NXS management would not give up that key strategic influence to anyone else but a "Shell"! I just hope that Shell, assuming it is the likely party, guarantees to maintain the timeline to production. This could easily be a win win insofar as Shell gets much earlier access to the gas which would greatly enhance the NPV of their asset, and NXS gets to keep the major stake in a large liquids project that would come on stream in 2011.
regards
DF
montara & plover formations, page-73
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