I am not sure if I am reading the RNS's correctly, so can anyone clarify the detail of the farm out please. Do Varang have a working interest in the Taribani Field Complex for the combined length of time specified for each phase i.e. 18 months + 6 months + 18 months. That would potentially give them a working interest of 40% for phase 1's 18 months, 50% for a further 6 months for phase 2 and 50% again for a further 18 months if phase 3 is attempted. Each phase's work could be finished early but I presume they would still be entitled to to the 42 month working interest. What does everyone else think?
Yes, buys vs sells could mean anything. It's best to look at which direction the share price is moving in and what the volumes are like. Although even that is not always indicative of what's really going on! The odds are certainly against us mere PI's!
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