otto energy bhp joint venture, page-16

1."Otto blew their negotiating position by announcing the deal too soon"

I dont think so, it was done in consultation with BHP.
In fact i believe it was at BHP's request that the payment amount wasnt in the original announcement. Which led me to further consider that BHP may have also been negotiating with another party in the Phillipines ie NDO, i now doubt BHP has any interest in NDO and also think it more likely OEL will farmout SC51 b4 NDO achieve a farmout.
2. "Negotiations........"

Have to disagree again, the timeframe is about 2 weeks past the original "from time" and still 2 weeks away from the original "to time". I think you better have another look at NDO's announcements again re farmout timetables if your concerned about OELs.