Covered it back clearly in my post on the 27th July. The Sale...

Covered it back clearly in my post on the 27th July. The Sale Purchase Agreement for this Transaction is dated 24th July, so work out 30 days from then (that's what PC is referring to). We should know by this time next week. Noticed that the AFR journo's r sound asleep, to pick up 8% news from WPL's HY report on Thursday.

Here's the jest :

- The SPA is betwn Capricorn Senegal, Lukoil Upstream Senegal B.V. and Cairn Energy
- Effective date is 1st Jan 2020
- SPA includes a guarantee from Cairn in favour of Lukoil in respect of all CapSen's Liabilities & obligations etc
- Transaction is subject to PE rights where applicable written waiver by other parties to the JOA of their PE rights, ministry approval etc
- Sale (working) interest at the time of the announcement was 40% (dt 27th July)
- Entitlement interest is 36.44% since Petrosen picked up 8% this month.
- Cairn spendings were apprx USD 522.1mil since 2013 to Dec 2019.
- Initial Cash consideration will be USD 300mil.
- Contingent payment will b USD 50-100mil depending on the POO (USD55 to 60/bbl or USD/bbl 60+) & time of first oil in either 2023 or 2024.
- Net Capex guidance is USD 330mil for 2020, that will be reimbursed by the buyer.

That's the long & short of it.