09-19-2015, 11:05 AM
To my opinion, davidhmtk is correct. Nothing says the Wildcard has to be invoked after startup.
The so-called "Wildcard" (Final Resource Payment) can be called for at any time prior to producing 25% of PRL 15 Certification of 2C Resources.
It could be a day after the Interim Resource Payment, or after lifting 24.99% of the gas, or any day in between.
At the moment, we assume that the Interim Resource Payment will be made in June 2016.
If, after additional wells are drilled (A-7; 3 producing wells; water injection wells; etc) they conclude that there is 3+ additional tcf above what was Certified by the Experts, IOC can call for the Wildcard payment of $1,200 Million (3 tcf x 40.1% x $1.00 per mcf).
The so-called "Wildcard" (Final Resource Payment) can be called for at any time prior to producing 25% of PRL 15 Certification of 2C Resources.
It could be a day after the Interim Resource Payment, or after lifting 24.99% of the gas, or any day in between.
At the moment, we assume that the Interim Resource Payment will be made in June 2016.
If, after additional wells are drilled (A-7; 3 producing wells; water injection wells; etc) they conclude that there is 3+ additional tcf above what was Certified by the Experts, IOC can call for the Wildcard payment of $1,200 Million (3 tcf x 40.1% x $1.00 per mcf).
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