Hi Moorefish again,
When I said I was not adverse to selling the interest, what I should have explained is that I would be seeking to negotiate a cash element ( to cover past costs and a profit element for value created by HW3) and then an overriding royalty of say 2.5% on profit oil from the permit.
In this way there would be no major cash outgoing but would retain an interest in the upside from the permit.
was it the right decision ?, page-4
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