pre open?, page-12

Back in Nov '08 PNOC were looking for a partner for this prospect by reducing their 50% equiy to 30%, while NDO had the other 50%.

More abt PNOC on this link,

http://www.pnoc-ec.com.ph/business.php

Think we might see a similar sort of strategy at play, i.e a 3rd player coming to the table & both NDO-PNOC reduce their equity.

PLenty of time to nut out the deal, still need to find a rig. Note that PNOC had BHP as partner in SC59 in 2009, in the Sulu Sea back on Exxon's Dabakaan find in SC56, so one never knows.

Hope the JV drills closer to the A-1X, the sands light up on their 3D seis & one can't go wrong drilling closer to a known 50 mmcfd discovery back in '80.

Would like to hear where exactly (or how far) NDO will ick a spot to drill, frm this known discovery.

Fundamentally a no-brainer, however NDO needs to sort out their cash register & logistics, b4 the drilling begins at Aboabo.