Wild Bill, you state that:"It seems to me STB put an offer to...

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