RE: FEGL21 Sep 2019 17:44
Therefore, no production is left in FEGL, but is there still a 5% RA from the production that takes place in FRUS? IMHO there is and this needs to revert back to the GG, which will only take place when FEGL is liquidated. Still IMHO, this required the need for the liquidator's to obtain a Supervision Order, prompted by the non-payment of Mourant. The 5% RA then increases the GG's percentage of the PSA to 53.45%, ( the arbitration leverage result) and FRR are free to sign a deal wit the super majors. Mourant, the liquidators and SH/O get paid from production revenue or monies from a deal with the super majors, whichever comes first.