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Re the Backreef Area: OBL got 80% after a settlement with BRU,...

  1. 756 Posts.
    Re the Backreef Area: OBL got 80% after a settlement with BRU, with BOL having the other 20%. OBL agreed to fund the Backreef-1 well and got agreement to a further 10% off BOL in return for a carry of their remaining 10%. BRU has a backin right to 30% (on, from memory a payment of 90% of Backreef-1) but no present participating right to any percentage.
 
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