RE: Forgive my ignorance20 Feb 2018 10:26
They would give away a 33% working interest in the license(s) not the company (I3E). Nearly all fields are operated by multiple partners, but that doesnt mean you give away part of your company, it just means CAPEX, OPEX and revenues are divided among the partners equal to their working interest. I'd be surprised if a company like Repsol, for example, would be interested in taking a 33% position in an AIM listed company. It defines how the loan will be repayed, through a production sharing agreement, where the loaner will probably take the vast majority of production revenue until it is repayed, then they will retain a 3�% interest in subsequent costs/profit.