20% of a gas\ oil field of commercial size for $3 million is a great deal. It values the whole 620,000 acres at $15 million. I just hope we can get some evidence that such a deal exists,and of course that we have an oil/ gas field in the first place. At the moment we just have an exploration permit which we claim we have 100% of despite having publically stated earlier that we gave away a 20% interest. Is it any wonder there is confusion?
In the last RNS is "Bowleven owns 100% of Bonomo", which means "The Bonomo discovery is commercial" why on earth would they pay Fontesa more to get the extra 20% back if it was not a commercial discovery.
Admittedly Fontesa directors could argue the opposite, "why would we give up our 20% stake if it was commercial"
I suspect (hope) the ball in this particular case is in the Scottish O&G explorer court.
"" ...Shell made an offer and there are also (companies) from France, from Britain, from Spain and the U.S…. in two weeks we will evaluate the offers and take a decision. It is likely we will have three suppliers,” he said.""
One of these years it will be ""our"" LNG. Imminent ....
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