Wild Bill, you state that: "It seems to me STB put an offer to Eritrean Minister of Energy and Mines and ENAMCO for a 50 / 50 profit split with STB paying 100% of development costs. But there has been no update on that. We dont know if that has been accepted."
I thought that it was the other way round : i.e. Eritrean Minister of Energy and Mines and ENAMCO put an offer to STB for a 50 / 50 profit split with STB paying 100% of development costs. That's the way I read it anyway. So I believe that STB are now trying to negotiate a more attractive deal which is more economically viable. I also believe that any chatter about the Eritrean Government renegging it's deal with STB is pure speculation as STB has stated in 2 announcements that it has the full support of the Eritrean Government. Regards, WC
STB Price at posting:
38.0¢ Sentiment: Hold Disclosure: Held
