otto energy bhp joint venture, page-7

Strat,

I think NDO will announce a signed deal when they can. They seem very reluctant to nominate who they are talking to "the search continues"...

Given the general guidance about the level of interest I'd say that a deal will be done but the PNOC-EC connection is probably slowing the process down (as PNOC will presumably farm down at the same time to the same company).

The upcoming sale by the Philippines Govt of 40ish% of PNOC-EC is a big deal politically (google "philippines energy self-sufficiency" and see how many hits you get. For the same reason the farm-down by PNOC-EC is a big deal. Nido are caught in the middle - but a deal will be done, maybe even before the Otto deal is closed??

In any case the BHPB deal is a bit of a side issue for OEL until they have their funding sorted out - which is a bit of a "show stopper" IMO.
p1000