'Relker' pid='48980' datel Wrote:
'trans' pid='48976' datel Wrote:
'Relker' pid='48973' datel Wrote:The status quo of the present situation is not clear to me. Questions:
1. There are different groups. Who are these groups?
2. Which rights have the groups under 1?
3. When do the stakeholders get a cash call?
4. How does the 6 months option work out?
5. Which stakeholders can be bought out by IOC?
annual report pages 102-105 should do it....trans
May be you can find the stakes, see enclosure, but not the rest of my questions.
From a financial point of view the IPI group represents bottom line 11,73% and the PNGDV group 5,23%. Only the last group can extend the number of exploration wells. The first group has the right to participate in 8 wells. I assume the following 4 wells were already choosen: Elk1; Elk2; Elk4 and Tricerops 2 as the annual report mentioned that 4 exploration wells were choosen ult 2013. Furthermore, Raptor is automatically an exploration well as it belonged to block 237 which includes Tricerops 2 and the first cash call is made. It is not clear to me if the IPI shareholders opted for Bobcat and Wahoo. What will happen with the exploration well Antelop deep? Strictly speaking Oilsearch has become the new owner of this block. Will this reduce the rights of the IPI holders to 7.