On 21 Jan 2014 BHP agreed to pay Otto $27m to enable BHP to withdraw from SC55. OEL announcement 21 Jan 2014.
Otto subsequently drilled the well, Hawkeye, for less than that.
On the same basis Freeport should pay about $100m to withdraw from their share of Mazagan. Now before you get excited, this is just a recent example. Let's see how it plays out.
I'm for drilling the well.
On 21 Jan 2014 BHP agreed to pay Otto $27m to enable BHP to...
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