"Where a JV forward program is committed, would all JV partners normally be required to put aside the budgeted moneys for that entire program before the program actually starts?"
Hi PJ, since no one has been able to offer you a definitive answer, I'll offer you an opinion. In my opinion, such a contract would be unworkable. Without checking, I am sure I have seen JVs where the program was committed, but one partner still had to raise capital.
Oil Price, page-22
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