Yep, that is exactly how I see it too, assuming the TAP...

Yep, that is exactly how I see it too, assuming the TAP announcement says it as it is, because the WHN one is rather vague.

Initially I thought why are TAP paying $295k per 1% interest when AWE are only paying $150k per 1%, but after seeing the TAP announcement it makes perfect sense, because TAP have assumed no risk whatsoever at the moment. They get to buy an interest if the seismic is good, and if seismic is crap they just walk away.

My other concern is where then will the $3M (plus any overrun) for the seismic come from given we only had $5M on Jun 30 and are burning $2.8M per year on 'suppliers and employees'?