Yep. Will be interesting to see (if they find gas) how it gets distributed. i.e. will MIN buy our share off the gas from us on an ongoing basis? Also puts into question how we would pay 20% of the appraisal drilling, development etc. I would imagine that MIN would be keen to go it alone so I think likely scenario would be the JV drills and finds gas, our SP jumps up to the 2-3c range (MC ~100-130M) and MIN comes in for a take over around 3-4c.
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Yep. Will be interesting to see (if they find gas) how it gets...
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