So, am I reading this right?
Flow test oil and proving the resource would not come under the PSC.
The PSC is invoked once production oil is flowing.
All production oil is sold to CUPET.
CUPET take their percentage of oil under the PSC after costs of the oil production are recovered.
CUPET then pay the JV (MAY and Sonanglo) the value of the remaining oil at the USGC HSFO rate, payment terms 90-180days.
So my concern is valid on CUPET's ability to pay for the oil?
So, am I reading this right?Flow test oil and proving the...
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Last
6.6¢ |
Change
-0.003(4.35%) |
Mkt cap ! $222.4M | |||
| Open | High | Low | Value | Volume |
| 6.8¢ | 6.9¢ | 6.2¢ | $614.9K | 9.259M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 371268 | 6.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 6.8¢ | 50000 | 1 |
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| Last trade - 16.10pm 17/06/2024 (20 minute delay) ? |
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Last
6.7¢ |
Change
-0.003 ( 2.90 %) |
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| Open | High | Low | Volume | ||
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| Last updated 15.57pm 17/06/2024 ? | |||||
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