petrobras eyes gas opportunities 2009, page-14

ga,
lets not forget that the farminee will own upto 50% at best of the permit and will be one of 4 joint venture partners. This will be a joint release and if the farminee decides to defer execution of this jv agreeemnt without justification or good cause I would expect MEO to pull the pin. I am confident that the delays to date have already tested the patience of MEO as evidenced by the need for it to have to conduct a hasty CR.

So, I disagree with your granting them a perogative to drag this out unnecessarily just to suit some perverse sense of the exercise of power as the major farminee.

ANZ