RE: Wressle production31 Jan 2021 15:33
CCF maybe so in UK as I am not really au fait with UK assets. except for about 30 years ago.
But I personally have never heard of a 70% pass mark for reviewing RNS statements?!
You don't even need 70% pass for yearly budgets?
The operator is the operator and they know more than any other partner what is going on - hence their technical data is what matters - not the "opinion" of partners or internal worries / concerns / politics of partners.
I have seen clauses specifically barring partners from RNS'ing information ahead of the operator or with regard to the assets without their permission or review although, it has to be said I have worked on projects where the smallie did RNS stuff that really they shouldn't and, there was not much recourse for operator in those circumstances, except to issue a different set of figures which proved to be difficult PR for the smallie and their respective analysts.
I am surprised the fact that if indeed any "agreement" is needed between partners, that it would not be worked over on the week-end as well (you implied Monday for Tuesday issuance) and feel the (considering the materiality of said assets for most of the companies) RNS will be issued as soon as possible by Operator, as opposed to waiting for offices to open Monday (what 09.00?).
Even so, if you say that all of the agreements you have been party to require a 70% "RNS" pass mark - I accede to your knowledge and experience - things must have changed since I was working?
All IMHO and best of luck all.