Hi Ya
Thanks for your insights.
I would imagine that P2 would form part of an appraisal program . Under the JV agreement COP will get a further 9% ( making it 60/40 ) if they pay 80% of he next $125m ( US ) appraisal costs.
We may get out this cheaply and any capital raising may be at much higher prices ( assuming P2 flows and we get some reserve numbers )
Cheers
Baraka
p#1 post-mortem, page-2
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