Who mentioned $35m dollars, and how many targets are there in SC63? (currently 3 on seismic)...exploration drilling or development drilling ...huge difference in costs...cannot see a major giving anybody a free carry of 20% across the board on an estimated 512MMbbls OIIP so far identified as most likely case.
Granted, available seismic only covers 31% of SC63's acreage, but that's NDO's bargaining problem, or a majors bargaining power.
Don't forget also, that a retained % and free carried % of that can be two different things.
As always, we'll just have to wait and see what deal/s is/are struck.
service contract 63 , page-5
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