06-28-2013, 11:16 AM
Kina has the original license. They farmed out 70% to Oil Search who has to earn the farm out by doing an agreed amount of drilling and geophysical work. Oil Search farmed out half of their 70% to Total. Each will have 35% and Kina will retain 30% assuming the partners perform the required work to earn their farm-out percentages. That is all from memory but I think it is accurate.