12-13-2013, 01:46 AM
No, I really don't believe that, CAC. It's a bonus. Total bought 47.5% of PRL 15, including all undiscovered prospects. IOC keeps 30% (all after Govt buyin and IPI buyout).
Total didn't have to reward IOC extra for any undiscovered gas (when it's discovered, hence Heisenberg's cat) or pay for an exploration well.
But it's a bonus. It could add up if the find is significant, which they seem to think. But by far the largest pay-off from a new find in PRL 15 comes from IOC's 30% stake in PRL 15 and the LNG plant.
Total didn't have to reward IOC extra for any undiscovered gas (when it's discovered, hence Heisenberg's cat) or pay for an exploration well.
But it's a bonus. It could add up if the find is significant, which they seem to think. But by far the largest pay-off from a new find in PRL 15 comes from IOC's 30% stake in PRL 15 and the LNG plant.