I agree with this post on ii7 Oct 2018 09:48
So TWO super Majors are ‘forensically examining’ FRR and their ‘property’ [as ZZ kept calling it].
A deal gets done [hopefully] either a JV/FO by one or both, SP moves up nicely, this instantly puts a MASSIVE spotlight on FRR, SM1 and/or SM2 happy with their deals.
SM3 thinks WTF happened there i want a piece of that ‘‘i know I’ll buy the company’’ which is probably still valued at <£500m.
My point is Super majors don’t want a piece of the action, they want all the actions, they’ve got everything needed to ‘deliver’ this field why an earth would they put up with interacting with little old FRR?
Negotiating contract terms has not started yet so of course there is ‘‘no talk of a T/O’’ .
So why would SUPER MAJORS want only a piece of the pie and if they took only that piece then leave themselves open to SM3 swooping in for the company?