Transoil are also very definite about BHPP's obligation to drill. On their web site they say,
"Trans-Asia has assigned 8.18% participating interest to Otto Energy Investments Ltd. (formerly NorAsian Energy Ltd.) on the condition that Otto Energy shall carry Trans-Asia’s 6.82% residual interest in the cost of the second well to be drilled in the contract area. Under a separate Participation Agreement, Otto Energy shall also fund Trans-Asia’s share of the drilling expenditures for the first well.
BHP Billiton Petroleum (Philippines) Corporation of Canada acquired 60% participating interest from Otto Energy. in December 2011. Under the agreement, BHP Billiton assumed operatorship of the block from Otto Energy and is obligated to drill the mandatory first well commitment stipulated in the service contract."
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