the telegraph, uk, page-2

Interesting that DJs and Patos don't want TPT diluted by 50% before they drill Tarfaya.

I guess they are both confident with the 80% chance that Tarfaya fails and their investment in TPT is virtually worthless.

I suspect that as we have discussed several times here before, they see Tarfaya as having a positive EMV, so they are willing to risk it even though they stand an 80% chance of losing it all.

But regardless, it looks like the merger is going to fail. JKA better pull their fingers out and start looking for alternate sources of funding.