As always with TLW, several things hang in the balance. New CEO, Gabon sale, refinancing, first $40m Kenya payment, and a near term game changer of seismic data info that could increase 2P reserves.
TLW lack ingenuity, hence this poor deal. However, if this project gets off the ground then even before their 30% kicks in TLW have a share of this asset and something to sell if needed.